ECB raises key interest rates – will prices come down?

There is little hope of interest rates and energy prices coming down for now, The Irish Times fears:

“There is no sign of any easing in the damaging economic uncertainty caused by geopolitical developments. Mortgage borrowers will hope that interest rate increases will be modest – particularly new borrowers or those coming off fixed rates, who are most exposed. The public will hope that the surge in oil and gas prices will reverse, limiting the damage to their pockets. But the risks look set to roll on and, worryingly, energy traders are talking about a ‘new normal’ of higher oil and gas prices and US president Donald Trump has said the conflict in the Gulf is set to continue until after November’s mid-term elections.”