In any case, he pointed out that it will take some time before they can be downloaded. The European Central Bank (ECB) will meet on September 14 to decide whether or not to raise interest rates.
The peak of European Central Bank (ECB) interest rates is “very close”, according to the ECB. Governor of the Bank of France (BdF), François Villeroy de Galhau, who in any case points out that it will take some time before they can be downloaded.
Villeroy de Galhau, member of the ECB’s board of governors, pointed out on Friday that “we are close or very close to the peak of our interest rates. On the contrary, we are nowhere near the time when we could consider taking them down“.
In a meeting organized by the Association of Economic and Financial Journalists (AJEF), he stated that with a view to the following advice from September 14 from the European Central Bankas to the following, the options “are open”.
The US Federal Reserve (Fed) in turn meets a day earlier.
The ECB has raised its interest rates by 425 basis points since July last year, when they stood at 0%, in what constitutes the fastest upward cycle in the history of the euro area.
The Euribor falls for the first time in twenty months and the mortgage firm continues to fall
The 12-month Euribor, the indicator most commonly used in Spain to calculate mortgage payments, fell for the first time in 20 months, ending August at 4.07%. However, despite the fall, the installments of the variable mortgages to be reviewed annually and with this month’s data will become more expensive again, as the Euribor stood at 1.249% a year ago, in August 2022.
On the other hand, the number of new residential mortgages in Álava, Bizkaia and Gipuzkoa as a whole fell by 21.8% in June compared to the same month last year, although it recovered compared to May when the decline reached 26.9%. In Navarra, it is down 11% when compared to the data from a year ago.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
