Michael Dowling: June interest rate cuts will give relief to tracker mortgage holders

The question remains whether banks will pass on the rate reductions straight away. The answer is 'no', other than for tracker mortgage holders.

The minutes of the ECB March meeting noted 'the case for considering rate cuts was strengthening', while some on the ECB Governing Council are weary of allowing inflation rebound. Picture: Michael Probst.

The inflation rate in Ireland is back below the European Central Bank’s (ECB) target of 2% per annum, figures released by Eurostat have revealed this week.

Our inflation rate has fallen to 1.7%, but it is not the same story throughout the eurozone — where the average rate is 2.4%.