Irish interest rates likely to stretch ahead of ECB

The gap between prevailing interest rates and the amount it costs to finance a loan looks set to widen considerably this year, with lenders likely to raise rates long before the European Central Bank (ECB) does.

30th January, 2010

The gap between prevailing interest rates and the amount it costs to finance a loan looks set to widen considerably this year, with lenders likely to raise rates long before the European Central Bank (ECB) does.

A historically-low interest rate environment has held firm since last May, when the ECB cut eurozone interest rates to a record low of 1 per cent. This marked the sixth consecutive rate cut by the bank, bringing headline interest...

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