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European Central Bank To Make A Major Interest Rate Cut!

 

Updated : Feb 25, 2009

The European Central Bank(ECB) is to make a big cut next week to interest rates which is more great news for mortgage holders, The ECB plan to make a massive .5% cut this time. This will bring the interest rates down to a low of 1.5%.

This interest rate cut will mean that interest rates will be the lowest that the rates have been since the ECB formed, and it will be the fifth time the bank made a rate cut since October. This cut is a bid to get the housing market up and running again after the serious nose dive it has taken in the last year!

VeryHappyPig says maybe a cut in the ridiculously high stamp duty rates in Ireland would also help!

 

 

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