Sunday February 23, 2020

More pain for homeowners

Last Thursday’s interest rate rise by the European Central Bank will put even more pressure on struggling homeowners

9th July, 2011

Last Thursday, the European Central Bank announced it would be raising base lending rates by 0.25 percentage points to 1.5 per cent, in a widely-expected move.

The increase, which was the second this year, was meant to help the ECB curb inflation in the euro area, where core countries such as Germany and the Netherlands are experiencing steady growth.

But in struggling peripheral eurozone economies, such as Ireland, the higher cost of borrowing is going to make...

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