ECB may cut interest rate next week

There could be some good news for homeowners next week as it is speculated the ECB is planning to cut interest rates by 0.25% at its monthly meeting next Wednesday.

That would represent a saving of €15 a month for every €100,000 owed.

However, if the ECB President Mario Draghi does not announce a cut in the interest rate next week he is likely to signal a cut in July.