Homeowners in the euro area will face rising mortgage costs until at least 2030, despite declining interest rates, according to the European Central Bank (ECB). Many borrowers who secured low-rate loans must remortgage in the coming years, leading to reduced consumption as households tighten their budgets. While the ECB has cut its key deposit facility rate from 4% to 2.25% since June 2024, the majority of mortgages, particularly fixed-rate ones, will continue to be affected by higher rates established during the era of elevated borrowing costs.
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Google dealt blow at EU’s top court over record €4.12bn competition fine
Google's attempt to overturn a €4.12bn EU competition fine was undermined by an advocate-general's ruling supporting accusations that the company used its Android system to hinder competitors. This ruling aids the European Commission's efforts to enforce stricter regulations on major tech firms, adding to Google's total fines of €8bn over a decade. Need More Context? 🔎
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