Stock-market volatility may delay interest rate rises
Tumbling stock markets across the globe could delay further interest rate increases by the European Central Bank.
The bank is expected to raise interest rates by 0.25 percentage points again next month.
However, economists say this could be delayed due the current stock market volatility prompted by a crisis in the US mortgage market.
Austin Hughes from IIB Bank says central banks across the world may have to rethink their interest rate policies in an effort to bring some stability to financial markets.
"Over the longer term, it probably means that the peak of the borrowing cycle for Irish mortgage holders is going to be lower than we expected," he says.
