RSS FeedECB Rates Stay Put
Posted by Senan
The ECB left their base rate at 1% today. The consensus seems to be that it won't go much lower than 1%. As Ireland is so leveraged against property it would be great to see it drop, but a Europe wide view must be taken when looking at these rates and what the ECB will do next. Maybe the big economies, certainly Germany, are not as positively affected when rates drop? In fact, their savings are negatively impacted.
I opened a RaboDirect account a couple of years back because of their eye-catching rate, which has now been decimated (down to 2% today from 5% in March 2007). The flip side is that my tracker mortgage has gone the other way.
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