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Will ECB Interest rates come down

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    #32
    mobpd
    Registered Users Posts: 272 ✭✭mobpd


    Are Tracker rates immediately changed each time the ECB rate changes? I'm with EBS on a tracker rate- they havent updated the website and the call centre is now closed. I wondered if they had some leeway over delaying the reduction in rate or is it supoosed to be effective from the start of the following month etc?


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    #33
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    mobpd wrote: »
    Are Tracker rates immediately changed each time the ECB rate changes? I'm with EBS on a tracker rate- they havent updated the website and the call centre is now closed. I wondered if they had some leeway over delaying the reduction in rate or is it supoosed to be effective from the start of the following month etc?

    The actual ECB rise isn't effective till next Wednesday - so don't expect many lenders to change trackers till then. They should normally change tracker rates within 4 weeks max of an ecb change.


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    #34
    Scottie99
    Registered Users Posts: 1,250 ✭✭✭Scottie99


    There is talk of a second round of cuts happening this or next week.

    Lets see if the banks start lending to each other


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    #35
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    Scottie99 wrote: »
    There is talk of a second round of cuts happening this or next week

    Where did your hear this (or read it) ?


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    #36
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    It looks like the budget will claw back those cuts especially for those on the higher tax rate according to speculation in the papers.

    Give with one hand, give it back with the other :)


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    #37
    Scottie99
    Registered Users Posts: 1,250 ✭✭✭Scottie99


    BBC4 radio Money program (podcast). Worldwide cuts.

    Seems further cuts might now take place at the next meeting in Nov


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