ECB may cut key rate to 1%; Irish mortgage monthly savings may rise to €550 on 30-year €300K loan in 6 months
Apr 2nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The ECB - - European Central Bank - - may cut its benchmark interest rate by a half a percentage point in its key benchmark rate to 1% today, in response to continued grim economic news in the 16 member country Eurozone. A cut to 1% would result in a total Irish mortgage monthly savings of up to €550 per month on 30 year €300K loan, in the past 6 months.
