Central Bank interest rates prove fertile betting ground

BETS totalling over €35,000 have been placed by Irish punters on whether or not the European Central Bank (ECB) will raise interest rates tomorrow.

According to Betfair.com, a betting exchange site where users match bets against each other, €12,000 has been matched by users that there will be no change to interest rates, while €22,500 has been put down on the chance of a 0.25% rate increase.

Betfair said Irish homeowners will be on tenterhooks tomorrow as the ECB meets to decide what to do with Eurozone interest rates.