ECB 'may cut interest rates at next meeting'01/06/2012 - 07:06:35
There is speculation this morning that the European Central Bank could cut interest rates at its monthly meeting next week.
Experts predict that given the deteriorating economic environment in the Eurozone and the heightened uncertainty in both Greece and Spain the ECB could lower its main interest rate, currently at a record low of 1%.
A cut of .25%, if passed on by the banks, equates to a saving of €15 per month for every €100,000 owed.
The country's 400,000 tracker mortgage customers would benefit directly.
The ECB meets next Wednesday. Experts say that if President Mario Draghi does not announce an automatic cut in the interest rate, he is likely to signal a cut in July.
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