Pilar García de la Granja, deputy general director of Henneo’s Editorial and Institutional Relations Area, analyzes the latest interest rate drop by the European Central Bank.
This will have an impact on the clients of financial institutions when requesting a loan or renegotiating a mortgage loan, because the interest applied will be lower, having lowered 0.25 basis points.
“Your bank or your financial institution has requested that money at a lower cost, that means that it will also be passed on to you and you have to pay less,” the journalist points out.
The ECB’s rate cuts drag down the Euribor and will make the average mortgage cheaper by more than 100 euros per month
De la Granja also highlights that the ECB is the only monetary authority in the Eurozone, therefore it is “the one that decides how much money is in the market and at what price it is bought and sold”.
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