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Interest Rate Hikes Likely To Slow Down Next Year

Friday, 28 October 2022 13:34

An Ireland South MEP has given some positive news among three increases already this year.

There's some hope on the horizon for consumers affected by interest rate hikes heading into 2023.

That's according to Ireland South MEP Billy Kelleher, who is warning there may be more pain in the short term before matters improve in the New Year.

An interest rate increase of three quarters of a per cent was confirmed by the European Central Bank as countries struggle with annual inflation of almost 11%.

Mr Kelleher believes there may another rise in rates next month, but the prognosis in 2023 could be more positive:

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