Homeowners could pay €6k more a year as ECB set to issue further interest rate hikes

European Central Bank chief economist Philip Lane has signalled that more interest rate rises are on the way. File picture

Homeowners are facing a bleak summer of interest rate increases as the European Central Bank (ECB) is expected to hike rates multiple times in the coming months in a bid to tackle stubbornly high inflation.

Customers may have been anticipating a further rate hike next week following another meeting of the ECB.