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Tracker holders to be disappointed as ECB 'won't be cutting rates'

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Under pressure to intervene: ECB president Christine Lagarde. Photo: REUTERS

Under pressure to intervene: ECB president Christine Lagarde. Photo: REUTERS

Under pressure to intervene: ECB president Christine Lagarde. Photo: REUTERS

Tracker mortgage holders look set to be disappointed as the European Central Bank (ECB) is not expected to further cut its key lending rate.

This is despite an emergency cut in UK interest rates yesterday and a recent reduction in US rates, in a bid to tackle the economic fall-out from the coronavirus crisis.

The ECB's key lending rate is already at zero. However, some economists had been expecting it to go to minus 0.1pc after today's meeting.


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