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Interest Rates Move Northward In Europe!
4 March 2006
The central bank of Europe on 2 March increased the rate of interest by 2.5% Move was primarily aimed to curb inflation as the economy is on the verge of a comeback after the recent sluggish behavior. Most observers reacted with caution on the recent hike.
The general opinion being that a hike at this moment of time could jeopardize the economic growth of the euro zone. It is also observed that it would also lead to a corresponding decrease in loan applications. The onus now fairly falls on the lenders to make clear there rate of interest. As European Union & UK are like Siamese twins separated at birth any change in interest rates in main land Europe would surely have its effect on the rate prevalent here in UK. So if you are thinking of availing a personal loans, act now or be prepared to payback at high rates.
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4 March 2006
The central bank of Europe on 2 March increased the rate of interest by 2.5% Move was primarily aimed to curb inflation as the economy is on the verge of a comeback after the recent sluggish behavior. Most observers reacted with caution on the recent hike.
The general opinion being that a hike at this moment of time could jeopardize the economic growth of the euro zone. It is also observed that it would also lead to a corresponding decrease in loan applications. The onus now fairly falls on the lenders to make clear there rate of interest. As European Union & UK are like Siamese twins separated at birth any change in interest rates in main land Europe would surely have its effect on the rate prevalent here in UK. So if you are thinking of availing a personal loans, act now or be prepared to payback at high rates.
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