There’s speculation this morning the ECB may move to cut interest rates before Christmas.
Pressure is mounting on the new ECB chief Mario Draghi to announce a cut in interest rates to boost growth in the Eurozone.
A number of international economists have backed a call by the Paris based think tank the OECD for an early rate cut to stave off ‘patches of negative growth’.
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Any reduction in interest rates will have to be passed on to tracker mortgage holders straight away, however it will also put pressure on lenders here to pass on the discount to more than 200,000 home-owners on variable mortgages.
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