Adding to the list of worries was a deterioration in real estate markets.
The warning came as Central Statistics Office figures here showed a further deceleration in house price inflation as higher borrowing costs and cost-of-living pressures dampened demand. “Also, providers of finance have become more cautious, as residential real estate investment trusts have significantly underperformed the broader stock market and euro area banks have tightened their credit standards for mortgage loans,” it said.The ECB also warned that higher interest rates would increase households’ debt-servicing costs, with the speed of impact differing according to mortgage type.
More generally, the ECB warned that the risk of disorderly market adjustments had risen amid higher volatility and potential for further asset repricing.
Shouldn't that be 'promises'?
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Source: IrishTimesBiz - 🏆 6. / 77 Read more »