Re: HSBC Direct $25 Bonus vs Emigrant Direct Bank (Is ING even in the competition?)
I'm not sure, but here are some possibilities:
1. Since people would be upset about a drop anyway, they figured they would low-ball it at 4.5%, so when they "raised" it to 4.65% it would seem like a good thing.
2. They were waiting out results on inflation data to gauge whether the Fed will continue to raise rates. (Looks like the Fed will be raising rates at least 2 or 3 more times.)
3. They were losing a lot of deposits to other investments (such as GMAC MMA) and felt they had to go back up a little to stop the hemorrhaging.
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