The outlook for interest rates has changed dramatically - here is what it means
Smart Money: Slowing growth outlook could prompt the ECB to delay its expected rate rise
European Central Bank president Mario Draghi
Last autumn it looked as if interest rates would start to rise this year, for the first time since the economic crisis. September had been pencilled in by many as the likely time for an announcement from the ECB. This would have fed through into higher repayments for borrowers here.
But since then there has been a dramatic change in expectations on the financial markets. So what are analysts now expecting? What does this changed scenario mean for borrowers? And are we looking at a new era when borrowing costs will stay low for a prolonged period of time?