Farm Finance: Interest rates are on the rise once again

When is the best time to get an umbrella? before it starts raining, writes accountant Kieran Coughlan.

In the latest European Central Bank meeting at the end of October, interest rates notched higher by a further 75 basis points.

In the latest European Central Bank meeting at the end of October, interest rates notched higher by a further 75 basis points.

In layman's speak, that’s 0.75%. Taken in combination with the other interest rate rises of 0.5% in July and 0.75% in September, the rate at which banks can borrow funds from the ECB is now 2.25%, the highest in more than a decade.