Most big banks are offering interest rates in the 6.5% to 7.5% p.a. The interest rates offered by many banks on their fixed deposits are at multi-year highs. Some of the financial products that you may consider include the following. How can you benefit from current high interest ratesĬonsider allocating some additional money to fixed income in 2024 to benefit from the current high interest rates. Whenever the US Fed cuts interest rates, the RBI is also expected to cut interest rates. If that happens, the Fed will have to cut interest rates to boost the US economy. Some experts predict the US economy may fall into a recession in 2024. In 2024, if the US inflation rate continues to trend down to or below the US Fed target rate of 2%, the Fed is expected to cut interest rates.
As seen in the above image, in the last one year, the US inflation rate has fallen from a high of 7.1% (November 2022) to 3.2% (October 2023).
