We were asked to speak to TV3 news about the ECB rate cut yesterday which was rather unexpected. We are now at a point where for some tracker mortgages their interest rate is effectively only made up of the fixed margin over ECB base rate.
TV3 News with Sinead O’Donnell on the surprise ECB rate cut
We were asked about the likelihood of banks passing on yesterdays rate cut to standard variable rate mortgage holders, we don’t think they will.