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The European Central Bank is to raise interest rates for the first time since 2011

The European Central Bank is to raise interest rates for the first time since 2011

The European Central Bank is to raise interest rates for the first time since 2011.

It's expected they will go up by quarter of one percent however some anticipate it could be half of a percent, as Europe deals with the surge in inflation.

It's set to impact homeowners who are not on fixed interest rate mortgage repayments.

Waterford Economist Jim Power said its just the beginning of rate increases.

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