ECB expected to cut interest rates today

ECB expected to cut interest rates today

The European Central Bank is expected to announce an interest rate cut of 0.25% at its meeting today.

It would bring the rate to an historic low of 0.5% and would be a boost to struggling homeowners.

The cut would reduce the monthly repayments on every €100,000 owed on a tracker mortgage by €15.

The bank is also expected to unveil new measures to encourage banks to lend in the SME sector.

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