ECB expected to raise interest rates today

The European Central Bank is expected to increase interest rates when it holds its regular monthly meeting today. The bank has already signalled that it plans to raise its main lending rates in an effort to tackle high inflation in the eurozone.
Commentators are predicting an increase of 0.25 percentage points, which would add around €45 a month to a 30-year mortgage worth €300,000. The news will not be welcomed by Irish mortgage-holders, who are currently paying the highest rates in seven years.