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Small Personal Loan

  • 15-10-2019 3:08pm
    #1
    Gordy6040
    Registered Users, Registered Users 2 Posts: 468 ✭✭


    Hi Folks

    I'm looking for a small personal loan 5-6k. With Brexit looming, do we think it's a good idea to hang on and see what happens ? I reckon 2 countries could go into a recession so interest rates would be affected.. I'm no economist though.

    What do you think?


Comments

  • #2
    MondayBlues
    Registered Users, Registered Users 2 Posts: 20 ✭MondayBlues


    If you need the loan just get it, for a 6k loan there’s no point in fussing about Brexit, even if the interest did come down it’s going to be feck all. Shop around for the cheapest interest.


  • #3
    Gordy6040
    Registered Users, Registered Users 2 Posts: 468 ✭✭Gordy6040


    Seems to be An Post at the moment.


  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,619 ✭✭✭✭coylemj


    Gordy6040 wrote: »
    .... With Brexit looming, do we think it's a good idea to hang on and see what happens ? I reckon 2 countries could go into a recession so interest rates would be affected.. I'm no economist though.

    Irish interest rates are indirectly set by the ECB. And the economic situation in Ireland has little or no effect on interest rates in the Euro zone because our economy is such a small part of the overall area.

    When our economy was overheating in the 2000s with rampant property speculation, the ECB kept interest rates low to help the German economy grow. In the process, they let the Irish banks build a bonfire of debt. If we had a Brexit recession tomorrow, they couldn't care less.


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