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Zinshausse zu Jahresbeginn 1989

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Author Info
Heinz Handler (WIFO)

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Abstract

Seit Jahren steigen die Geldmarktzinsen gegen Jahresende saisonbedingt an. Auch im Dezember 1988 trat diese Aufwärtsbewegung ein. War früher der Taggeldsatz nach dem Jahreswechsel im allgemeinen wieder gefallen, so kletterte er im Jänner 1989 auf Rekordwerte von über 8%. Es entstand eine "inverse Zinsstruktur" mit höheren Geldmarkt- als Kapitalmarktzinsen. Der Zinsauftrieb läßt sich teilweise auf die gleichgerichtete internationale Entwicklung zurückführen. Die österreichischen Extremwerte folgten aber auch aus den Anlagestrategien heimischer Banken, deren Erwartungen über die Entwicklung des Schillingkurses und der ausländischen Zinssätze sich nicht erfüllten.

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Publisher Info
Article provided by WIFO in its journal WIFO-Monatsberichte.

Volume (Year): 62 (1989)
Issue (Month): 2 (February)
Pages: 72-75
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Handle: RePEc:wfo:monber:y:1989:i:2:p:72-75

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Related research
Keywords: Zinshausse zu Jahresbeginn 1989;

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