Last year was a disappointment for savers in just about every way possible, with savers enduring another year of abysmal deposit rates that averaged just 0.11 percent for money market accounts.
So what about 2017?
"It obviously depends on what the Fed will do and how aggressive they will be," says James Chessen, chief economist for the American Bankers Association.
And how much of the Fed's rate hikes dribble down to savers also will depend on the market for liquid funds that banks use to make loans to consumers and businesses, Chessen says.
"That will be probably the biggest driver of whether or not deposit rates will move at all," Chessen says.
McBride says he expects just two rate hikes rather than the three projected by the Fed.
"The Fed has a habit of overestimating both economic performance and their own interest rate activity," McBride says. He also says that he expects "some improvement in deposit yields, but it's going to be skewed to the back half of the year, and likely the fourth quarter of 2017."
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