About four weeks before the ECB's governing board meets to decide on the path of interest rates, the head of the Finnish central bank, Olli Rehn, said that he may have to cut rates again interest rates in September, given the continued weakness of the Eurozone economy.
The ECB cut interest rates in June after 10 consecutive increases, butheld them steady in July, without give a clear signal for the upcoming meeting on September 12.
Even a small rate cut of 0.25%, or at best 0.50%, in September, doesn't mean and a lot for borrowers and they won't see dramatic reductions in their loan installments either.
source: Philenews
Source: 24h.com.cy
