The cut is great news for tracker mortgage holders, who will see their monthly repayments fall again
The European Central Bank today announced a cut to its key interest rates by a quarter of a percentage point, which is the fourth cut since June.
The ECB also kept the door open for further cuts as inflation continues to cool. "The disinflation process is well on track," said ECB President Christine Lagarde at a press conference. "In 2025 we shall be at 2%." Read more: What cost of living benefits will be paid and what bills are going up in December
. However savers have been warned that they are set to lose out as more deposit takers are likely to reduce the interest they pay for money saved in bank accounts. Yesterday, it was revealed that mortgage rates in Ireland have reached the lowest point in almost a year and a half at 4.03%.
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