Sharp cost of living changes could be imminent
The cost of living in Ireland could increase if the European Central Bank (ECB) takes steps to eliminate high inflation. In that instance, headline EU interest rates could rise to 6% and Irish mortgage rates to 8% minimum. Headline inflation encompasses food and energy. That’s if the bank applies the same approach as the former US Federal Reserve chairman Paul Volker did in the late 70s. His decision to wreck…