Banks respond to ECB interest rate hike

However, tracker mortgage rates will be affected by the change which the bank says will take effect for most customers on August 10th.

It also confirmed that where negative rates were applied to customer balances, that will come to an end from August 3rd. However, at 3.15% on a mortgage with a loan to value of greater than 80%, AIB's variable rate offering is lower than Bank of Ireland's at 4.5% and Permanent TSB's, which sits at around 4%.

"We are pleased to provide reassurance to our personal fixed and variable rate mortgage customers that we have no plans to pass on today's ECB rate increase," Eamonn Crowley, CEO of Permanent TSB said.Tracker mortgage rates will automatically rise following today's rate hikes, the bank said.

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Bank of Ireland raises tracker mortgage and deposit rates following ECB interest rate increaseAll tracker mortgage rates will increase by 0.5 per cent, in line with rate hikes confirmed by the European Central Bank, while negative interest rates applied to customer accounts will end MichealMartinTD LeoVaradkar PearseDoherty MaryLouMcDonald What’s the government’s stance on this guys, are you gonna back “THE BRAVE “ now? A tax free month of earnings? Abolishing the USC? What say the you? Are you gonna reply? Let’s get Paddy Power to take bets!! Irish banks are great at the game of monopoly. Why can’t Irish consumers get reflective rates like rest of EU. We are paying 2 x times on average vs ecb. 2100 euro per year on average more!! interestrates
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