Interest payments could be slashed by another 1.25 percentage points

IRISH mortgage holders could see their interest payments slashed by another 1.25 percentage points next year, according to NCB Stockbrokers.

This is on top of the emergency 0.5% that the ECB shaved off rates in response to the global banking crisis last week.

NCB analyst Brian Devine yesterday said the stage is set for much lower global interest rates primarily, but not solely, driven by the developed world.