NEW YORK, July 14 (UPI) -- Bankrate.com of New York said Wednesday the advance in yields on many certificate of deposit maturities has stalled, at least temporarily.
Bankrate.com said its weekly survey of large depository institutions showed the average six-month CD yield inched up to 1.10 percent from 1.08 percent last week, and the average five-year CD yield dipped to 3.59 percent from 3.60 percent.
The 1-year CD yield inched up to 1.52 percent from 1.51 percent a week ago.
Bankrate.com said the release of two inflation reports later this week -- the producer price index and the consumer price index -- could play a large role in how soon and how much the Federal Reserve boosts interest rates.
"An unfavorable inflation report would herald more aggressive Fed action and jumpstart additional improvement in CD yields. But CD yields could remain stalled if inflation is tame," Bankrate.com said.
The firm said money market accounts remained unchanged at 0.45 percent.
It said it found four institutions yielding at least 2.1 percent on money-market accounts. Bankrate.com also found six institutions paying more than 2 percent on six-month CDs, and eight paying at least 2.7 percent on one-year CDs.
