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Dublin: 19 °C Friday 29 May, 2020

The ECB is going to let you in on why they're slashing interest rates

Those on tracker loans will hear the decision-making process of the ECB’s record-low interest rates.

Image: Shutterstock

FROM JANUARY, THE European Central Bank (ECB) is going to start publishing the minutes of their interest rate setting meetings.

The ECB’s interest rates are currently at record-low levels.

Interest rates 

In September the ECB surprised everyone by cutting interest rates across the eurozone to a record low of 0.05 per cent while announcing spending measures to stimulate economies across the region.

A number of central banks publish, such as the Federal Reserve and the Bank of England, already publish the minutes of their monetary policy meetings, however, new research from the Central Bank of Ireland states that the majority do not.

The Central Bank of Ireland does not publish minutes of its meetings.

The research paper says that there is a broad consensus that publishing the minutes provides transparency, and that while a relatively small proportion of central banks publish minutes, those that do are located in both advanced and developing countries.

Read: What do ECB interest cuts mean for Irish pockets? Plenty for trackers>

Read:  Inside the first new hotel to open in Dublin for nearly 2 years… and it’s so hipster it hurts>

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