ECB signals rate cuts at an end

HOMEOWNERS are being urged to fix their mortgage rates as the European Central Bank (ECB) signals interest rate cuts have come to an end.

The European Central Bank (ECB) kept rates on hold yesterday and president, Jean Claude Trichet signalled that rates would not be cut in June either.

KBC chief economist Austin Hughes said markets may soon begin to debate when the first rate increases might arrive adding that it seems more likely to be an issue for the summer of 2010 than that of 2009.