Looks like Interest Rates in Ireland rates will be dropping.
According to a report, in The Irish Independent Newspaper (www.independent.ie), The European Central Bank (ECB) yesterday paved the way for the first cuts in nearly five years! ECB president Jean Claude Trichet left rates unchanged when the ECB met yesterday and there was no mention of increases.
David Tilson of Bank of Ireland, said: "The ECB has effectively dropped its threat to raise interest rates."
Skip the Champagne...
Don't start celebrating yet - most of top analysts believe there will be no rate drops until the second half of 2008 (at the earliest)!