The European Central Bank (ECB) has announced a new cut in interest rates, something that could help lower the cost of mortgages on Normandy property.

In its monthly meeting, the board of governors agreed to trim the rate by 0.25 per cent with effect from April 8th, taking the main refinancing operations rate to 1.25 per cent.

The decision comes amid further recent evidence of lower inflationary pressures and deepening recession in the eurozone.

Normandy property investors may find that this rate move makes cheaper mortgages available, lowering the potential cost of buying a home in the region.

Those who do buy in Normandy will be able to look forward to an equine extravaganza in 2014, as the region was awarded the status of host for the World Equestrian Games this week.

Such an event may help attract horse lovers to the area and provide income for those renting out holiday property during the event.

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