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Thu 05 May 2009ECB cuts interest rates to historic low of 1 per cent
Many mortgage holders can look forward to another fall in their monthly repayments after the European Central Bank cut interest rates by 25 basis points to a new record low of 1 per cent today.
The reduction will see monthly mortgage repayments on a standard €300,000 tracker mortgage over 30 years fall €39 to €1,154. The rate reduction is passed on automatically for all tracker mortgage holders.
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