How are rising interest rates affecting equipment finance?
07 July 2023
With interest rates in Europe and the US at their highest levels since the credit crunch and predicted to rise further, construction equipment buyers are facing a hike in funding costs. Lucy Barnard finds out how manufacturers and banks are cushioning the blow for rental firms
Lenders are warning that interest rate rises in the US and Europe are set to push up the cost of financing construction equipment to levels not seen since the credit crunch.
In June the European Central Bank raised its main refinancing rate to 4%, its highest level since 2008 and…
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