Spanish mortgages at all-time low as Euribor set to remain at 0.25 per cent
Friday, January 10, 2014 @ 5:39 PM
THE European Central Bank (BCE) will keep interest rates in the Eurozone at the historic low of 0.25 per cent after cutting the figure by half in November.
This is partly fuelled by a fall in gross domestic product within member States which use the euro, and low inflation at 0.8 per cent rather than the predicted 0.9 per cent.
The top three economies in the Eurozone – France, Germany and Italy – saw a retraction in growth and with the exception of Germany, continue in recession.
Unemployment in the region remained at 12.1 per cent as at November 2013, a record high which has barely moved since April last year and which is far exceeded by Greece (27.4 per cent) and Spain (26.7 per cent).
BCE chairman Mario Draghi said medium-term forecasts for the Eurozone had worsened, as had short-term conditions in the money markets.
Read more at thinkSPAIN.com