MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • No further cuts in ECB rates until 2015, predicts survey
Uncategorized
May 14, 2013 - 08:15

No further cuts in ECB rates until 2015, predicts survey

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
No further cuts in ECB rates until 2015, predicts survey

THE European Central Bank may not cut its key lending rate again until the end of next year – a move that would be a blow for tracker mortgage holders.

A comprehensive survey of European economists has found that most do not expect another cut until at least 2015.

This month the ECB cut its lending rate to 0.5% in a move that will save 375,000 tracker holders around €30 a month on a €200,000 mortgage.
And last week head of the bank, Mario Draghi, said his organisation was ready to deliver another reduction.
The Frankfurt-based central bank will leave its main refinancing rate at its present level until the end of 2014, according to a survey of economists by Bloomberg news service.
The same survey shows that 27 of 32 economists predict no cut in the benchmark rate by the end of 2013, while five see a reduction to 0.25%.
Mr Draghi said last week he expects the euro-region economy to "gradually recover" in the second half of the year.
But he added that the "risks surrounding the economic outlook for the euro area continue to be on the downside".
Such an outlook has helped fuel speculation that the ECB might cut its interest rate again.
Economist with Goodbody Stockbrokers in Dublin, Juliet Tennent, said the ECB may well cut rates again this year.
"The ECB has left the door open. If economic conditions deteriorate further in the eurozone then a rate cut is certainly on the cards."
Under tracker contracts, lenders are obliged to pass on any reduction in ECB rates.
Banks can move variable rates in any direction, at any time.
 

Advertisement

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • Bloomberg
  • ECB
  • economists
  • European Central Bank
  • Interest rate
  • lending rate
  • Mario Draghi
  • mortgage
  • reduction
  • tracker mortgage
  • variable mortgage
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement