RISING COSTS

High interest rates to continue warns ECB

THE president of the European Central Bank (ECB) has offered little respite for over four-million households in Spain that are struggling to pay their variable-rate mortgages.

Speaking to Spanish TV, Christine Lagarde (pictured) said that interest rates will continue to rise this year and that they will then be at a high level for a while, until inflation falls.

She offered no hope either of a return to 0% or even negative interest rate figures seen between 2014 and 2021. “Interest rates will not return to where they were two, three or four years ago as the situation has changed,” Lagarde said.

The ECB head said she will be guided by inflation rates and projections prepared by her economic experts. Spanish banks link their rates to the 12-month euribor benchmark which is expected to rise by half a point to over 4% later this year.

While Lagarde would not say how long interest rate hikes will continue, she did see an end to high inflation which would mean interest rates coming

Hypocrites!

IT is ridiculous that so many foreigners stick their oar in on bullfighting when, to be frank, it is none of their business how the Spanish maintain their traditions.

Many people against bullfighting have no objection to tucking into a steak and wearing leather, and these are most likely from factory farmed animals kept in horrendous conditions. At least the bulls used in bullfights have a pampered existence largely in the ‘wild’ before they are killed. Too many people are hypocrites on this matter.

Janet Simpson, via email

IF bullfights were made humane and turned into a show of artistry and dexterity on the human side, and beauty and power on the bull side, then surely those opposed to the for- mer style of bullfights would want to come and see how it had been re- newed.

JuliaMijasKinane, Costa

Editor’s note: There are indeed ‘bloodless’ bullfights which are increasingly popular and an ex- hilarating sight.

back to her 2% target by 2025. With such a warning coming from Lagarde, people wishing to mitigate against the worst effects of rising interest rates should seek professional advice.

We at the Finance Bureau have advised thousands of people on mortgages down the years and have the expertise and experience to find a loan tailored to your needs. For example, we do have a new fixed-rate remortgage product, which is not normally offered by Spanish lenders, that will reduce monthly payments.

Give us a call, and we can discuss your situation and find a solution that suits you best.

To contact Tancrede for all your mortgaging needs call: 666 709 743 or for insurance queries call: 951 203 540 or email: tdp@thefinanacebureau.com The Finance Bureau Centro Commercial Guadalmina, 2nOffice No.7 Guadalmina, 29670 on page