Budget will grab any savings from interest rate cut

You need to take action to reduce outgoings, so try to cut the cost of life and health insurance, as well as rising fuel bills, writes Frank Conway.

13th November, 2011

Just days after he took the helm at the European Central Bank (ECB), Mario Draghi made a bold decision to cut the ECB base rate by 0.25 per cent. This shocked ECB watchers and surprised markets, yet pleased individual homeowners in Ireland whose monthly mortgage repayments are directly linked to the base rate of the ECB.

There are three mortgage camps in Ireland.

There are about 400,000 mortgage-holders in this special camp. Because their loans are...

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