↻ Reposted
The reason everyone now earns 0% on the banking account is quite simple – if you think about it.
Banks would charge interest for loans (and they were a damned sight better at making sure those loans would be repaid), and you would get interest by putting your money in the bank.
Then the central bank came along- which basically put ALL banks at the EXACT same interest rates. So it took that consumer choice out of the equation.
And when that happened it opened the door for 0% interest rates because … what choice do you have? ALL the banks are charging the same.
