>The ECB is expected to hike rates by 0.25 percentage points tomorrow. If this is fully passed on by banks, it will mean repayments on a typical first-time buyer mortgage of €300,000 will rise by €45 a month or €540 a year.
by OldMcGroin
>The ECB is expected to hike rates by 0.25 percentage points tomorrow. If this is fully passed on by banks, it will mean repayments on a typical first-time buyer mortgage of €300,000 will rise by €45 a month or €540 a year.
by OldMcGroin
2 comments
Irish banks pass on the ECB rate for savings you bastards
The unnamed experts referred to in this article have no basis whatsoever to say rates will fall by, or after 2025. It’s actually a very misleading article.
The ECB has one job: keep inflation around 2 percent. They do this using interest rates. Overall, the ECB have been good at achieving this target. The long term average Eurozone inflation rate is 2.18%.
EU inflation rate for June is 6.40%, that’s down compared to 7.10% last month and 9.60% last year, but even accounting for the recent interest rate increases, Eurozone interest rates remain close to the long term average.
The only way that interest rates will fall by or just after 2025 is if we have a recession, which will lead to deflation either being very likely or indeed actually happening. Otherwise, rates will remain high.
Shame on the Irish independent for publishing this rubbish.