The European Central Bank has increased interest rates by 0.25% this morning.
THE EUROPEAN CENTRAL Bank has increased interest rates, for the eighth consecutive time, by 0.25% this morning.
Lagare said indicators of underlying price pressures remain strong, although some “showed tentative signs of softening”. “Fiscal policies should be designed to make our economy more productive and gradually bring down high public debt.” Hennessy said with the jump in tracker rates by 3.75% in less than 12 months, her brokerage expects today’s rate increase could bring this to at least 4%.
“Already struggling with rising food prices and energy bills, this further interest rate hike is another blow. “This is because the main banks have been so slow at passing on the ECB rate increases to their mortgage customers,” Cassidy added.
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