Belgium’s long-term interest rate hits record low

Belgium’s long-term interest rate has hit a new record low. On Wednesday, the rate Belgium has to pay to borrow funds over a 10-year period reached 2.388 percent. In recent months Belgium has gained a reputation as a safe bet amid the Europe-wide instability, so investors are prepared to lend money to Belgium for a return significantly lower than it was only a few months ago. Interest rates for Spain and Italy, meanwhile, have reached between 5 and 6 percent. This low rate is excellent news for the Belgian treasury, which has to pay less interest on the money it borrows, but also for consumers eager to get or renegotiate a mortgage.