ECB rate cut to reduce Irish mortgage repayments by up to €82 a month; Since September mortgage repayments have fallen by over 20%
Jan 15th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Further to the decision of the Governing Council of the ECB - - European Central Bank to cut the base-lending rate by half of a percent to 2%, several Irish financial institutions say they will pass on the reduction that will reduce the typical monthly mortgage repayments by up to €82 a month. Since September, mortgage repayments have fallen by over 20%.