ECB likely to hold fire on interest rate cuts — for now

THE European Central Bank (ECB) is expected to keep interest rates on hold when it meets tomorrow.

Mortgage holders enjoyed a series of cuts over the last few months. However, it is likely they will have to wait until March before any further cuts are announced. Ulster Bank economist Simon Barry said the ECB is likely to pause this month and take a breather.

“The ECB cut rates last month and I think they initially hadn’t intended to cut rates in January but after apoor economic data they didn’t have much choice.