ECB ONCE AGAIN CUTS KEY INTEREST RATE
County Wexford’s tracker mortgage holders have been given a boost.
The European Central Bank has cut its key interest rate to a new historic low of 0.15%.
ECB President Mario Draghi says he expects the new rate to remain for an extended period of time.
However he’s told a press conference in Frankfurt that the bank stands ready to act as and when necessary – and he’s indicated that its preparing to announce the provision of cheap loans for households and small businesses to stimulate further growth in the eurozone.
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