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Michael Probst

Mario has a bonus for tracker mortgage holders next month

Frankfurt looks set to deliver a long-awaited interest rate cut next month.

THE EUROPEAN CENTRAL Bank looks set to cut interest rates in June in a move that will ease the repayment burden on tracker mortgage holders.

Reuters reported today that the move is “more or less a done deal”, and it will be pushed through along with a package of measures aimed at boosting lending to Small and Medium Size enterprises.

Personal finance expert John Lowe of moneydoctor.ie said that the rate cut is likely to be in the order of 0.15 per cent, but said that overall the impact would not have a huge impact.

“It’s insignificant in some respects, but it’ll still be a few bob off their mortgage repayments.”

While the rate cut will automatically be passed on to holders of tracker mortgages, Lowe said that those on standard variable rate mortgages are unlikely to have the cut passed on by their banks.

“I’m quite certain that they won’t pass it on.”

The rate cut was first signalled by ECB president Mario Draghi at his monthly press conference last week.

He said: “The Governing council is comfortable with acting next time but we want to see the staff projections that will come out in early June.”

While not overtly explosive, Draghi’s comments, which were versed in the conservative language favoured by central bankers, were welcomed by the markets after several months of inaction.

The move is primarily designed to try and encourage inflation in the euro zone, which is battling sluggish levels of price growth and the spectre of deflation.

We should be worried about low inflation, says NTMA chief>

No interest rate break for tracker holders>

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    Mute Cormacklemore
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    May 4th 2015, 9:32 PM

    The Chinese – a great bunch of lads

    1465
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    Mute Damien Rogers
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    May 4th 2015, 9:50 PM

    Well done

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    Mute skeyes
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    May 4th 2015, 9:57 PM

    Pmsl… Ted comments always roll off the tongue here on the journal but that has to be the most appropriate use of a ted quote yet. Well done!

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    Mute Damien Rogers
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    May 4th 2015, 10:02 PM

    Rehashing old tv quotes from cancelled tv shows is the height of humour.

    42
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    Mute Pearse Mc Mullen
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    May 4th 2015, 10:29 PM

    The timing of such quotes is the height of humour,
    And the unnecessary bitchiness on a funny and innocent quip is the height of ignorance.

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    Mute Gaeltán
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    May 4th 2015, 11:04 PM

    An tír is mó ar domhan agus an an spórt is fearr ar domhan. Craobh na Síne le teacht -íosfaidh siad na Cait!

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    Mute David O Connor
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    May 4th 2015, 11:23 PM

    Father Ted was never cancelled either.

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    Mute James Gorman
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    May 5th 2015, 12:13 AM

    Big pick

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    Mute Damien Rogers
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    May 5th 2015, 12:35 AM

    U wot m8?

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    Mute Kedgeo
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    May 5th 2015, 12:44 AM

    Yer a bit of a big ole dope Damian :-)

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    Mute Terence
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    May 5th 2015, 1:30 AM

    Damien, oasis or blur?

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    Mute Damien Rogers
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    May 5th 2015, 1:59 AM

    Terence your joke or someone elses?

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    Mute Baz
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    May 4th 2015, 10:32 PM

    I can hear Michael O’Muircheartaigh already.

    “Lu wins the breaking ball, passes it out to Chow who drills it down to Mein on the full forward line who is tackled and wins the free off Jackie Tyrrell. Lu Chow Mein – I ordered that in my local Chinese in Maynooth last night – and it too went down as easy as Mein there”

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    Mute J
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    May 4th 2015, 10:43 PM

    I hear you’re a racist now father….

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    Mute Graham Doyle
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    May 18th 2015, 8:04 AM

    It’s not the Chinese he’s after, it’s the Greeks!

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    Mute B A C
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    May 4th 2015, 9:53 PM

    Its the best game in the world. My dad won a dublin championship medal in the late 60s and im still so proud

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    Mute Jonathan Hayes
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    May 4th 2015, 9:36 PM

    Michael Rice and Lee Chin gonna pop in?

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    Mute Paul O'Donohoe
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    May 4th 2015, 9:46 PM

    Lookit I know that was a bit of a controversial comment. But in fairness I did laugh at it. Have a thumbs up

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    Mute John Barry
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    May 4th 2015, 10:33 PM

    +1 Mr. Hayes!!!!

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    Mute Al Ca
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    May 4th 2015, 10:54 PM

    I really like this….wonder if we’ll ever get to see the show with subtitles…the Chinese have a great sense of humour just like us…they’ll be laughing their heads off at each other trying to hit that sliotar.
    Great for tourism.
    Anyone know where we can get a link to that show! :)

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    Mute Gerard
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    May 5th 2015, 1:44 AM

    You have very clearly never seen Chinese TV. It’s all recycled clichéd trash with zero artistic value. It’s all about making money. Not just for the channel, for everyone involved.

    Not that they there aren’t funny people in China, just you won’t see them on TV, like Jia Ling. Who you’ll only ever see on a (very funny, admittedly) Wrigley’s ad.

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    Mute Louis Eivers
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    May 5th 2015, 5:56 AM

    Chinese TV humor is total slapstick. I think we’re a little ahead of that….

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    Mute Qwerty
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    May 4th 2015, 11:43 PM

    500 million people! Brilliant publicity for the sport.

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    Mute Kevin Ryan
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    May 4th 2015, 9:38 PM

    You’re playing Sino hurling now, lads.

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    Mute Grumpeee Oldman
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    May 4th 2015, 11:41 PM

    Is it true the producer of the show is Mr Fun Hur Ling ?!

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    Mute Luke
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    May 4th 2015, 9:36 PM

    The fact that people like you still exist is worrying to a lot of people.

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    Mute David Carino
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    May 5th 2015, 9:48 AM

    Hoo Lee Fuke

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    Mute Ivan Murphy
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    May 5th 2015, 12:25 PM

    What’s the craic with the black hurlies?

    Can you imagine the deforestation of Ash trees should it catch on in China? I might plant a few :-)

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