How the rate cut will affect borrowers and savers

Now interest rates have reached 0.15 per cent what does this mean for savers and borrowers?

8th June, 2014

The journey to last week’s announcement of historically low interest rates for Europe began in November 2011, the month Mario Draghi took over from Jean Claude Trichet as European Central Bank (ECB) president.

At its meeting that month, the ECB cut its key interest rate from 1.5 per cent to 1.25 per cent, a trend that has continued since with five subsequent rate cuts in December 2011, July 2012, May 2013, November 2013 and, the latest cut, last week.


Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago