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President of European Central Bank Mario Draghi Michael Probst/AP/Press Association Images

ECB interest rate cut may be announced on Thursday

Homeowners could benefit from a cut by the European Central Bank in interest rates, which is expected to be up to 0.5 per cent.

THE EUROPEAN CENTRAL Bank may cut interest rates by up to 0.5 per cent this Thursday.

The AFP reports that the ECB’s governing council will hold its last monthly interest-rate meeting this year on Thursday.

This is the same day as European Union leaders gather in Brussels to discuss the future of the euro.

The Irish Independent reports that homeowners could benefit from a cut of up to 0.5 per cent in interest rates – but even if no large cut kicks in, there may be a second decrease at the beginning of 2012.

Interest rate cuts will automatically benefit homeowners who are on tracker mortgages.

But banks don’t have to pass on rate cuts to homeowners with variable rates – Bank of Ireland, Start Mortgages, Ulster Bank and National Irish Bank all made the decision not to pass on the last rate cut in November.

Read: ‘Merkozy’ meet to plan stronger fiscal coordination across eurozone>

Read: Mortgage holders advised to check contracts for possible savings>

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14 Comments
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    Mute B-Egan
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    Sep 23rd 2015, 7:54 AM

    The United States not the regular people but the elites are a parody at this stage. Rome Nero springs to mind. The leadership options of most powerful person on the planet is like planet of the apes. Thank God for Bernie Sanders .

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    Mute Dara McGann
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    Sep 23rd 2015, 8:33 AM

    It might be an idea to check if the content is playable in the country your posting the article to..

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    Mute Saul Goodman
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    Sep 23rd 2015, 9:25 AM

    Get HotSpot Shield to get an US IP address

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    Mute Mick Hannigan
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    Sep 23rd 2015, 7:53 AM

    sorry jade nothing can make Enda look good,

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    Mute JakeTheMuss7
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    Sep 23rd 2015, 7:47 AM

    This lad makes Enda look good.

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    Mute Trevor Beale
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    Sep 23rd 2015, 7:59 AM

    I just came on to write exactly the same. We all can’t be wrong!!

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    Mute Peter McGlynn
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    Sep 23rd 2015, 7:59 AM

    Biffo made Enda look good. Enda is no good.

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    Mute Eugene Harrington
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    Sep 23rd 2015, 9:19 AM

    Cowen did not make anyone look good.

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    Mute Anthony Kelly
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    Sep 23rd 2015, 8:02 AM

    Even knowing how dysfunctional they are we will still bow down at this guys feet if he is elected. Our eagerness to support his every whim, to justify his every action will know no bounds if he were to become president of the U.S. Makes us more dysfunctional than them!?

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    Mute Chris O Neill Cabra
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    Sep 23rd 2015, 8:27 AM

    Want to make America great again Donald?

    Heres a start: How about nobody talks about you anymore.

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    Mute John Ward
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    Sep 23rd 2015, 8:56 AM

    Cameron’s pig makes Enda look good!

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    Mute Ken Loughman
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    Sep 23rd 2015, 8:00 AM

    It’s the first I’ve heard of a big fat meatball declining a big fat meatball…

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    Mute Azov
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    Sep 23rd 2015, 8:57 AM

    Europe needs a great and beautiful wall.

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    Mute gerard sheehan
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    Sep 23rd 2015, 8:55 AM

    it will be great for Irelands tourism industry to have a golf course (doondeg) owned by the next president of the United States. Just think of who may get off airforce one in shannon to play a fourball. President Trump, Putin, Pope Frances and Castro. Now that would get the media talking about the West of Ireland

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    Mute Tweed Cap
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    Sep 23rd 2015, 9:29 AM

    How in Gods name could any cavalier billionaire understand or relate to the average man on the street.
    Does he really want to run a country from the safety of his own private planet? And if so you’d have to question that motive in itself.

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