Central Bank rates across the major economies are at extremely low levels, in many cases unprecedentedly so. In the US the Federal Reserve is maintaining the Fed funds rate in a corridor between zero and 0.25% while in the UK the Bank of England has cut the Bank rate to only 0.5%. Euro zone rates are higher, at 1%, but again the repo rate is also at an historic low according to Bank of Ireland’s July Bulletin.
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Average asking prices for Irish houses fell by 14.66% in the 12 months to June 2009, according to new research by myHome.ie.
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As people increasingly look for new ways to boost their income, many British homeowners could be sitting on a mini-goldmine this summer, says Email4property.co.uk, with properties throughout the country now offering excellent potential for short-term holiday lets.
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Interest rates in the Eurozone economies have been kept on hold at at 1.0% for another month following the European Central Bank’s regular meeting.
