The European Central Bank is preparing to announce its first cut in interest rates in more than a year - but economists are warning it's not all good news ahead for the economy.
It is thought the ECB will cut rates by between 0.25 and 0.5%. The latter would mean a monthly saving of €54 for householders paying a €200,000 mortgage.
Canada Life's Investment Manager, Gary Connolly says it is not all good news however.
"The future market suggests at least a cut of a quarter percent but I think the market is going to be disappointed with anything less than half a percent.
"For variable rate mortgage holders, we should see the cost of borrowing come down if and when the banks and lending institutions reduce their rate.
"We have only seen fixed rates come down as bond yields have fallen over the last year or so. The flipside of that is favours on deposits are going to see their returns shrivel up further and with inflation at 4.5%, the real return is quite negative."