European Central Bank president Mario Draghi at the Spring Meeting of the International Monetary Fund and World Bank in Washington last month. The Irish Small and Medium Enterprises Association has called on the Government to take the “strongest action possible” to force banks to pass yesterday’s ECB interest rate  reduction.    Photograph: Yuri Gripas/Reuters

About 400,000 homeowners on tracker mortgages will benefit from the 0.25 per cent interest rate cut announced by the European Central Bank yest(...)