Thursday, June 05, 2008

Silver And Gold

'The European Central Bank is stubbornly refusing to cut its rate because of fears of inflation, despite the fact that consumers and business throughout Europe are crying out for action. This ECB policy is particularly damaging to Ireland, according to the Construction Industry Federation chief, Tom Parlon' - Irish Independent, 28/3/08

"I think the ECB will reduce interest rates two or three times in the coming year. This will boost sentiment towards the Irish housing market." - Austin Hughes, IIB - Irish Times, 14/2/08 (see below!)

'...with the ECB likely to cut interest rates in the coming months...' - Property Supplement, Irish Times, 14/2/08

'Interest rate cut likely as ECB alters its stance' - Irish Times headline, 8/2/08

'The European Central Bank (ECB) yesterday paved the way for the first cuts in nearly five years. As it dropped its previous threat to raise rates to combat inflation, some analysts said borrowers could benefit from a cut as soon as April.' - Irish Independent, 8/2/08

'BoI predicts 0.5% cut in interest rates this year'; 'The bank's chief economist says he expects two rate cuts in the second and third quarter of the year in light of the current economic turmoil in the US.' - Irish Independent, 25/1/08

'Climbing rents and an expected cut in interest rates will combine to improve the situation, says Hubert Fitzpatrick, director of the Irish Home Builders Association' Property Supplement - Irish Times, 6/12/07

'In his quarterly economic review yesterday, Alan McQuaid, economist at Bloxham Stockbrokers, said a cut in rates was very much a possibility, the longer the global credit crisis goes on and banks continue to encounter funding problems.' - Irish Independent, 14/11/07

"Based on current trends and data, I expect Eurozone interest rates to start coming down by mid-2008, with the ECB cutting rates by half a percentage point before the end of the year" - Geoff Tucker, Hooke & McDonald - Irish Independent, 5/10/07

'ECB will slash, not raise interest rates claims economist'; 'A leading economist claimed that the European Central Bank is now likely to cut interest rates, rather than raising them, over the next few months. And a fall in interest rates could be the best chance of avoiding financial ruin for thousands of consumers who have over-borrowed in the past few years, IIB Homeloans economist Austin Hughes said yesterday.' - Irish Independent, 11/9/07

'ECB urged to cut interest rates' - Irish Times headline, 19/9/07

etc, etc ad nauseum

'ECB Says rates could rise next month' - Today.
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