The European Central Bank has raised interest rates to 3%. The last increase back to last June.
fourth increase since last December. Increase of 25 basis points: the previous rate was 2.75%. The gap in the cost of money between Europe and the U.S. down to 2.25 points.
Trichet: "We respond to the risks of inflation. If recovery continues, we will raise them again"
August 4, 2006
By the fourth increase in eight months, the ECB takes the cost of borrowing to 3% more expensive mortgages because of rising interest rates.
asked for a loan da100mila € there will be price increases ranging from 150 to 163 € per year
ROME -
Sting coming for those who have a mortgage and those who bought in installments. The
rise a quarter point to 3%, interest rates, the fourth in eight months
will result in price increases for borrowers up to 656 euro per year. But the State will be penalized by the decision of the ECB.
The losers will be those who have already signed an adjustable rate mortgage and who is going to turn it on. As we gain the people of the people Bot.
MORTGAGE THE STARS - "
Hundreds of thousands of families who have already pulled the strap to fulfill your dream purchase of the house to live there, so will increase your monthly payments and / or six months, from a minimum of 150 € , up to 163 € per year for a loan of € 100,000 with the rise in Central Bank, "says the consumer association Adusbef, stressing that" a mortgage of 200,000 with a repayment plan twenty years, will rate more salty, from 326 € a € 656 per year, not to mention that almost all the banks, requiring the opening of the account to disburse the loan and that also require 6-7 € to pay the installments of dumb, previously free. "
Increasing ECB, also affects those who come on new loans, "because banks and financial institutions will adapt to the generality of uses lightning. But for the first time after the Bersani decree, banks will have to adjust the rates of interest on bank deposits and savings: an increase of 0.25 on all their (bank and postal deposits, certificates of deposit at maturity equal to over 830 billion euro), will bring about 2 billion euro on an annual basis in the pockets of depositors. "
EVEN HIT THE PEOPLE OF RATE -
seek loans for the purchase of appliances and other household products, will increase the total amount repaid in 5 years about 93 €. You will also have negative consequences for holders of revolving credit cards, a sort of knot, as the transfer of salary below € 5,000, the necks of consumers (more than 6 billion € have been used) that provide a refundable credit rate (the payment of which reconstitute the possibility of further discoveries), with growth rates of around 24%.
Source: http://www.corriere.it
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John Kenneth Galbraith. source "The good society" 1997 edition combined with Panorama. Galbraith says that full employment with a low rate of taxation is the most effective weapon against inflation ... (Section 6 - Inflation)
Monetary policy is not the most effective but the most immediate, as it can be implemented by central banks independently from the influence of political power.
Insights: John Kenneth Galbraith
http://it.wikipedia.org
http://www.emsf.rai.it
http://www.ildiogene.it
The New Industrial State
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The ECB raised rates: how much the mortgage payment increases according to the calculations of eMortgage
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