Speaking following the cabinet meeting that had taken the decision, which applies only to new subscriptions, Branco said that “the state has to be a good manager” and “with such a strong adjustment in the rates paid to the market then there had to be an adjustment to our savings certificates and treasury savings bonds.
Whilst the state secretary confirmed that the rates would be dropping “as from February”, the actual new rates were not yet decided upon and “would be made known just as soon as is possible.”
Some market commentators have since forecast a likely rush into these savings instruments over the course of the second half of January in order to take advantage of the current rates.