The European Central Bank has cut its interest rates for the fifth time since June and left the door open for more reductions to follow in the months ahead.
As a result of the decision, the ECB will cut its main rate from 3% to 2.75%.
The latest decrease of 0.25 percentage points will directly benefit some 130,000 homeowners with tracker mortgages, resulting in repayments falling by €13 per month for every €100,000 borrowed.
It remains to be seen whether banks will pass on the latest cut to those on variable rates.
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