Rate cut not so welcome for savers

Last week’s interest rate decision was good news for borrowers, but not so welcome for savers.

8th November, 2008

Last week’s interest rate decision was good news for borrowers, but not so welcome for savers.

Last Thursday, the European Central Bank (ECB)announced a half a per cent cut in interest rates in a bid to kick-start Europe’s faltering economy.

This brought the ECB base rate to 3.25 per cent. The decision by ECB president Jean Claude Trichet and his team marked the second cut in a month, following a...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

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