No rise in interest rates expected as ECB meets

HOUSEOWNERS could be offered some slight relief from rising interest rates today with hopes the European Central Bank might indicate it will not raise rates again this year.

Interest rates at some banks have jumped by as many as 1.5 percentage points in the last year.

Amid turmoil in the Italian and Spanish economies, the ECB is meeting to discuss matters in Europe and the prospect of any more interest rates hikes this year. Every 0.25% increase in interest rates means €15 extra a month on a €100,000 mortgage.