Has the Central Bank let down Irish mortgage holders?
Inside Business with Ciaran Hancock
00:00
Fixed Rates and Variable Rates
Central bank of Ireland doesn't set rates. Except in extreme circumstances, the market should be allowed to determine the mortgage rate. In Ireland, we had a weird situation of fixed rates at 3%. And variable rates up as high as 4.5% from many of the banks. That made no sense. It should have been the other way around.
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