Yesterday, quite unexpectedly, the European Central Bank cut interest rates by 0.25%. Which should lead to reductions in interest rates on housing loan repayment installments. It's not all. Experts predict, that in the near future, we face two more cuts. Another early December. And all of this to save the Euro zone.

Central Bank cut interest rates, and now have to wait, indigenous banks until they do. People, who have a tracker mortgage (unfortunately such loans the banks do not grant) immediately got a cut in interest rates because this type of loan is directly linked to the level of interest rates, European Central Bank. Now people, who have loans with variable interest rates are wondering whether their banks communicate to the reduction to their customers.

Reduction of 0,25% means an average savings of about 30 € in monthly installments by credit 200 000 €. That is why the state regulator is pushing for banks to cut interest rates sent on to their customers. Two banks have already declared, that will reduce their lending rates on variable rate. Permanent TSB is to do it immediately, and KBC Bank to lower interest powinnien 1. December.

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