Latest cut from eurozone’s central bank will put pressure on banks to lower variable and fixed rates
Latest cut from euro zone’s central bank will put pressure on banks to lower variable and fixed rates
It started the downward rate spiral in June in response to an easing of inflation across the euro zone when it cut rates by a quarter of a point. A second rate cut followed in September at the same time as a technical adjustment which amounted a 0.35 per cent cut was confirmed. A further rate cut of 0.25 per cent cut was announced in October.Interest rates will be 1.
“For a €250,000 mortgage this adds up to a significant annual saving of €2,230, or nearly €186 per month.”
Tracker-Mortgage Interest-Rates
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