The ECB announced Thursday that it was undertaking its third quarter-percentage-point cut of the year, resulting in a benchmark rate of 3.25 percent.
One thing is for sure: This is not a simple issue, and anyone who tells you they have an easy fix is pulling the wool over your eyes.
MyHome.ie survey
In all of this, the Irish banks for all their sins are simply piggy in the middle
“In the wider financial context, we have indications that Government has taken in €3.5 billion in corporation tax just in the first four months of this year alone.”
In short, the ECB’s plan is to nudge the economy in the direction of a recession, in order to combat inflation.
Nightmare before Christmas
Could add €180 to monthly mortgage repayments.
There are, unfortunately, choppy economic waters ahead.
If you’re in your late thirties, like me, then you are just about old enough to remember the evils of inflation, and the problems it wrought on the Irish economy in the late 1980s and early 1990s. As the value of money decreased, prices went up. As prices went up, the Government tried to make […]