The Wall Street Journal writes "Higher Deposit Rates May Finally Be Coming to Your Bank Account." The article, subtitled, "With Fed poised to raise interest rates a sixth time, savers so far have seen few rewards," tells us, "Is the sixth time the charm? The Federal Reserve has raised short-term rates five times since late 2015, but banks largely stood pat on deposit rates for rank-and-file customers. Now, with the Fed expected to lift rates again this week, there are signs this could change. The average rate on a one-year certificate of deposit, or CD, rose to 0.49% last week, according to Bankrate.com, a personal-finance website. While that's peanuts by historical standards, it is the highest in more than seven years, and the march upward has quickened after the most recent Fed moves. Banks over the past year have already raised the interest paid on deposits held by businesses and affluent individuals who demand it. But their tentative foray into higher CD rates is more about trying to get ahead of average customers' demands. It's a tricky calculation. Banks don't want to pay more than they have to, but they also don't want to keep deposit rates so low that customers eventually leave." The Journal quotes, Gerard Cassidy of RBC Capital Markets, "This is the biggest story that investors and bankers are going to talk about for the next two years ... after a period of eight or nine years of not even worrying about it."

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