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Charlie Weston: 'Interest now seems unlikely to rise - but it won't be coming down, either'

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'Anaemic economic growth across Europe is the reason why ECB rates won’t rise for a while.' Photo: REUTERS

'Anaemic economic growth across Europe is the reason why ECB rates won’t rise for a while.' Photo: REUTERS

'Anaemic economic growth across Europe is the reason why ECB rates won’t rise for a while.' Photo: REUTERS

Mortgage holders and those planning to buy a home might be forgiven for worrying that home-loan interest rates were about to start going up.

Last week's move by Bank of Ireland to increase the interest on some of its fixed-rate mortgages was interpreted as a sign that it expects European Central Bank (ECB) rates to start moving up in the next year or so. Although the bank also reduced some of its short-term rates, Bank of Ireland pushed up the cost of its five and 10-year fixed rates.


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