Interest rate predictions.

Any predictions for the interest rate in Spain for the coming months / year ?

It would be great if they came down some more but I personally don't see it happening.

Hang on but I know someone who might      

I think it unlikely they will come down any further. As interest rates in Spain are linked to Euribor (not so much Central Bank lending rate) if anything I think it is more likely they will rise. Possibly not significantly but a rise nonetheless. Euribor is calculated as an average of the rates of a pool of banks at the rates at which they will lend to other banks. With the general reduction in confidence between banking institutions this is likely to impact on the rates they have to pay to each other and consequently this will have a domino effect onto their retail customers. 

In the autumn of 2007 there started a similar spike - ECB rates werent moving but owing to the bad news coming out of Northern Rock, Bear Sterns, Lehmans et al, confidence in other banks was eroded very quickly. One could also imagine they were also looking at their own debt portfolio and thinking "Good Lord - if everyone else has been doing what we have been doing then we are all screwed"