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Dublin Live
Dublin Live
National
Emma Nevin

Mortgage holders brace for massive hikes as ECB raise interest rates from next month

Irish homeowners on variable and tracker rates will soon be hit with an increase in their monthly mortgage repayments.

The European Central Bank confirmed today that interest rates will be raised by 0.25% in July, marking the first time the bank has raised rates in eleven years.

The bank has predicted inflation 6.8% in 2022, 3.5% in 2023 and 2.1% in 2024..

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