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ECB rates

  • 12-01-2012 2:36pm
    #1
    jessiejam
    Registered Users, Registered Users 2 Posts: 778 ✭✭✭


    No reduction in key ECB rates this month.... :mad:


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 40,351 Mod ✭✭✭✭Gumbo


    Expected.
    They want to see if the previous cuts had any effect first i believe.
    Still possible that future cuts will come though.


  • #3
    jessiejam
    Registered Users, Registered Users 2 Posts: 778 ✭✭✭jessiejam


    Heres hoping...


  • #4
    SBWife
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭SBWife


    No news there, it had been pretty well flagged.


  • #5
    KindOfIrish
    Registered Users, Registered Users 2 Posts: 454 ✭✭KindOfIrish


    jessiejam wrote: »
    No reduction in key ECB rates this month.... :mad:
    it's 1%! what reduction did you expect????


  • #6
    jessiejam
    Registered Users, Registered Users 2 Posts: 778 ✭✭✭jessiejam


    Last month there was a lot of talk about them dropping the rates down again in January.
    Last few days economists were saying they would probably not drop again.
    I wasn't expecting it I was hoping for it and ya know everyone needs a bit of hope now and then


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  • #7
    Padraig Mor
    Registered Users, Registered Users 2 Posts: 9,610 ✭✭✭Padraig Mor


    jessiejam wrote: »
    Last month there was a lot of talk about them dropping the rates down again in January.
    Last few days economists were saying they would probably not drop again.
    I wasn't expecting it I was hoping for it and ya know everyone needs a bit of hope now and then

    ECB don't generally drop rates when things are looking hopeful on the macro level!


  • #8
    jessiejam
    Registered Users, Registered Users 2 Posts: 778 ✭✭✭jessiejam


    Well hopefully they won't go up anyway!!


  • #9
    waitingforBB
    Registered Users, Registered Users 2 Posts: 173 ✭✭waitingforBB


    They will go up in the medium term..nothing more sure.

    ECB rates at 1% is a short term reaction to the situation and is very unusual. God help us when they go to the 'desired' rate of about 4%. Mortgage holders on variable rates will be screwed (PTSB are over 4% above the ECB rate) so will they suffer >8% Standard Variable Rate when ECB rates return to normality?

    Shudder to think, but its not far away..(my opinion)


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