On October 17th the ECB announced it was lowering lower the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 3.25%, 3.40% and 3.65% respectively, with effect from 23rd October 2024. The ECB cut […]
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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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Today the ECB interest rate was kept at 0.05% – but the European Central Bank also unveiled the details of its quantitative easing programme, which it is hoped will lift the euro zone economy out of stagnation. The €1 trillion scheme, was first announced in January and will begin on March 9th. The scheme will […]
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