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Low rates for an "extended period of time" good news for French tracker mortgages

Mario Draghi, President of the European Central Bank, confirmed that rates will stay at their current level for an extended period of time. The European Central Bank Benchchmark rate was reduced to 0.15% in June 2014.
This forward guidance is in sharp contrast with the policy of the Bank of England which has already indicated that UK base rates would rise in 2015, possibly sooner.

ECB benchmark rates are used as index for French tracker mortgages which are indexed on Euribor 1 month, 3 months or 12 months.

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