Frankfurt. For the primary time since 2019, the European Central Financial institution (ECB) reduce its rates of interest this Thursday, though it elevated its inflation projections and warned that the approaching months might be “hectic” and with little visibility by way of worth will increase. The Frankfurt-based establishment decreased its deposit fee by 1 / … Read more
“Horrible menace.” These had been the phrases utilized by Janet Yellen in an interview with the Reuters information company to tighten the thumbs of seven European banks which can be nonetheless lively in Russia. Amongst them are Deutsche Financial institution, Commerzbank, the ING Group of the Netherlands, Intesa Sanpaolo and UniCredit from Italy, OTP of … Read more
Febelfin rejects a mandatory increase in savings interest. The banking federation is also reluctant to respond to the letter from Minister Vincent Van Peteghem (CD&V) that interest rates must be raised. Febelfin, the federation of the banks, reacts negatively to the warning from Minister of Finance Vincent Van Peteghem that interest rates on savings must … Read more
The recent decision by the European Central Bank (ECB) to raise interest rates for the seventh time since last July has put immense pressure on mortgage holders in Ireland. As a result, the reintroduction of mortgage interest relief is currently being negotiated within the Government ahead of the upcoming budget, according to Taoiseach Leo Varadkar. … Read more
The recent interest rate increases by the European Central Bank have had a significant financial impact on many people. With inflation still high, the bank’s president has warned that more rate increases are coming, meaning more financial pain for borrowers. Tracker mortgage holders in particular have been hit hard, with the situation now reversed from … Read more
The latest European Central Bank (ECB) council meeting resulted in a quarter point rise, while some hawkish members were seeking a half point rise. To mollify the hawks, the ECB announced quicker run down of its Government bonds holdings, which could add some upward pressure on long-term interest rates but hopefully not add to jitters … Read more
The European Central Bank (ECB) has increased its interest rates by 0.25%, in a bid to tackle euro zone inflation. The announcement, which was widely anticipated, takes the key ECB rate to 3.75%, resulting in hundreds of euros added to the annual cost of tracker mortgages. This increase follows six previous rate hikes, which have … Read more
Finance Minister Michael McGrath has advised the European Central Bank to exhibit caution and consider the impact of raising interest rates on households and firms. He has urged businesses to contribute to the fight against inflation by cutting prices. McGrath shared this sentiment during his meeting with ECB officials in Stockholm, stating that the monetary … Read more
In the fight against inflation, central banks like the ECB use higher interest rates as their primary weapon. By increasing borrowing costs, consumer spending decreases, and demand in the economy falls, resulting in less money and easing inflation. However, this time around, inflation was caused by higher energy prices and supply chain problems, not consumer … Read more
. You may think that having money in a savings account is a safe and responsible way to manage your finances, but the truth is that it could actually be costing you money. With interest rates at historic lows, many savings accounts are not keeping pace with inflation, which means your money is actually losing … Read more