The ECB’s rate decision came as European markets recovered from a dramatic sell-off on Wednesday, when fears over the health of Credit Suisse, one of Europe’s biggest banks, sank indices and wiped billions off the value of stocks.
As market analysts waited on ECB chief Christine Lagarde’s follow-up comments, Europe’s central bank insisted the euro area banking sector is resilient, with strong capital and liquidity positions. “As such, these tensions imply additional uncertainty around the baseline assessments of inflation and growth,” it said.
Rachel McGovern of umbrella group Brokers Ireland said the situation is very worrying for the vast majority of mortgage holders, not just tracker mortgage holders.
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