Rate cut hopes stay alive for Irish borrowers even as downbeat Draghi delays

ECB president Mario Draghi disappointed expectations the bank would act decisively to counter growing global economic clouds — but financial markets signal that it could yet be forced to cut rates later this year.

Speaking to reporters after the ECB meeting in the Lithuanian capital of Vilnius, Mr Draghi said the “prolonged” uncertainty caused by trade wars, the rise of populism, and Brexit meant the eurozone economy would grow slower next year and in 2021 than the bank had earlier projected.