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An Extra €40 A Month On Mortgages As Interest Rates Rise To Fight Inflation

The European Central Bank is to increase interest rates by 0.25% in July, which could result in mort...


An Extra €40 A Month On Mortga...

News

An Extra €40 A Month On Mortgages As Interest Rates Rise To Fight Inflation


The European Central Bank is to increase interest rates by 0.25% in July, which could result in mortgages costing around €40 more a month.

It will end a decade-long bond-buying scheme, introduced off the back of the financial crash where rates were below zero.

 

It comes as the rate of inflation in Ireland increased by 7.8% to the end of May.

ECB president Christine Lagarde says they're looking at further increases in interest rates in September:

"The calibration of this rate increase will depend on the updated medium-term inflation outlook.

If the outlook persists or deteriorates a larger increment will be appropriate."



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Cost Of Living ECB EU European Union Inflation Interest Rates

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