Central bank’s policymakers lower deposit rate to 2.75 per cent from 3 per cent, giving tracker mortgage holders here an instant boost
European Central Bank president Christine Lagarde. Predicting that inflation will be back at its 2 per cent target later this year, ECB policymakers lowered the central bank’s deposit rate to 2.75 per cent from 3 per cent.
This was the ECB’s fifth rate cut since last July and comes as fresh figures show the euro area economy unexpectedly contracted in the final quarter of 2024. Irish space race: domestic companies pushing the frontiers of AI, space stations and acoustic technology Combined the ECB rate cuts since July means a typical tracker mortgage holder on 0.5 per cent above the ECB rate with an outstanding mortgage of €180,000 will see a total reduction of €145 per month on repayments arising from the reductions, including the special one-off reduction of 0.35 per cent in September last.
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