ECB cuts interest rate to 1.25%

[adox]

you mean dec 9th.
it was announced on the 3rd but was not effective until the 9th
thus 30 days from the 9th is the 9th

Ah my mistake. thanks for clarifying.

 

[suemoo1]

Got one earlier this week. Can't remember the date that they said the cut was effective from though. I will check this evening.

Sunny, I got my letter yesterday 6th Dec.. cut comes into effect on my next payment on 27th Dec. thanks

 

[RMCF]

When will the next 0.25% be cut by the ECB?

 

[callybags]

I heard this morning that they are considering a .5% cut in the next week or two.

We wait in hope.

 

[NorfBank]

When will the next 0.25% be cut by the ECB?

Thursday, either 0.25% with another 0.25% in the new year or they may put down a marker and cut by 0.5% on Thursday according to "experts".

 

[loli]

Can someone knowledgable explain to me the logic behind the banks decision when to pass on the cuts/increases in interest rates? I have a mortgage with KBC and when there was an increase in July, the ECB announced the increase on the 7th and the bank increased the rate from the 14th, so within 7 days I was paying the new interest rate. However when they cut it in November, the announced it on the 3rd and the bank didn't implement it until 1st December. My repayment comes out every 1st and there was no change in the December repayment. When I rang them they said the mortgage is paid always for the previous month and that the lower repayment wouldn't be until 1st January. So when it increased, I was paying the high rate within 7 days, but when it goes down I still pay the higher rate for another 2 months???