In the Eurozone there are several interest rates which are set by the ECB.The rate that most people in Ireland on tracker mortgages are interested in is called the “main refinancing rate “. The refinancing rate is the rate at which the ECB lends money to commercial financial institutions like banks. It is this rate […]
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As expected, the ECB increased their deposit interest rate this week to 4% . The increase, up from 3.75% will take effect from September 20th 2023 The increase in the ECB’s interest rates to their highest level in more than 22 years will heap more pressure on tens of thousands of borrowers. The chances of […]
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At todays monthly meeting of the ECB it was announced that the headline interest rate will be cut to zero from the current low rate of 0.05%. The last cut in the ECB rate was in Sept 2014 when it fell from 0.15% to 0.05%. This cut initially caused a decline in the value of […]
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At today’s meeting of the Governing Council of the ECB it was announced that the main refinancing interest rate will be decreased from 0.15% to 0.05%, from 10th September 2014. This is the rate that affects tracker mortgages – so that is some good news for anyone lucky enough to still have a tracker mortgage. […]
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The European Central Bank left interest rates on hold today (Thursday) despite forecasting low inflation for years to come. The ECB left its main interest rate at 0.25 percent – which was expected and it also held the deposit rate it pays banks for holding their money overnight at 0%. Further cuts were not ruled […]
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