Further interest rate cuts expected with EU economy 'losing momentum'

Today's 0.25% cut will see tracker mortgage repayments drop by €13 a month for every €100,000 they owe

President of the European Central Bank Christine Lagarde: said 'The risk of greater friction in global trade could weigh on euro area growth by dampening exports and weakening the global economy.' 

The European Central Bank (ECB) has kept the door open for future interest rate cuts in the new year as the economic recovery across the bloc shows signs of “losing momentum” amid growing concerns of greater friction in global trade.

Following a monetary policy meeting on Thursday, ECB President Christine Lagarde announced an interest rate cut of 0.25% which will immediately benefit those on tracker mortgages.