Eurozone rates kept on hold at 2%

Home | Contact Us | Our Services | About Us
Europa Mortgages - Spanish Mortgage in Spain
Need help with your mortgage? Use our 24-Hour Helpline - Call (+34) 637 451 649
Mortgage Services
Mortgage Enquiries
Mortgage Guide
Mortgage Calculator
Interest-Only Mortgages
Spanish Commercial Finance
Financial News
Documentation Required
Euribor Information
Mortgage Resources
Spanish NIE Numbers
Foreign Currency
Foreign Currency Exchange
Foreign Currency in Spain
Practical Steps
Overseas Mortgage Payments
More Advice on Currency
Spanish Property
Spanish Property
The Village
Spanish Property Rentals
Buyers Guide
Inheritance Tax
Useful Spanish Phrases
Need a mortgage in Spain? Get more information now.
Eurozone rates kept on hold at 2%

News Article Date: Thursday 05th of February 2009

The European Central Bank (ECB) has kept interest rates for the 16 countries that use the euro unchanged at 2%. Rates in the eurozone have been cut four times since September when they stood at 4.25%. Many analysts expect the cost of borrowing to fall further, with another cut expected in March. The central bank is trying to revive the eurozone's economy, which is mired in recession. However, it has been more cautious in cutting rates than its counterparts in the US and UK. The Bank of England cut rates by half a percentage point to 1% earlier on Thursday, the fifth reduction since October when they stood at 5%. US interest rates are already as low as they can go. Financial markets are looking for signs that the ECB might follow in the footsteps of the Federal Reserve and the Bank of England and consider more unconventional monetary policy measures. This could include quantitative easing whereby central banks aim to increase the amount of money flowing in the economy by buying assets such as government bonds from banks. Richard Snook, senior economist at the Centre for Economic and Business Research, says the ECB needs to take bolder action on monetary policy. "The ECB is clearly behind the curve," he said. "Global policy rates at zero and coordinated quantitative easing across all major economies is the best remedy for an unprecedented global crisis," he added. For mortgages or remortgages in Spain visit thanks for reading.
Send us a mortgage enquiry for your mortgage requirements in Spain, France, Portugal, Cyprus, Florida, Dubai and Turkey Click here to send a Spanish mortgage enquiry
Follow our mortgage blog the latest news and often irreverent views Click here to follow our overseas mortgage blog Thanks for reading

- • -

For advice and a free quotation please fill out a Spanish mortgage enquiry.

Home | Mortgage Enquiries | Our Services | About Us | Contact Us | Mortgage Resources
Europa Mortgages - Tel (+34) 637 451 649 - Fax +44 207 681 1265
© 2004-2007 Europa Mortgages SC (CIF - G92654250). All rights reserved. No unauthorised copying permitted.

Web Design in Spain by abOriginal