Paschal Donohoe: Introduction Of Measures To Protect Public From Rising Interest Rates Cannot Be Done

Thursday, 27 October 2022 10:15

By Ciara Noble @niaracoble

ECB expected to increase rates when it meets later

The Finance Minister says he cannot introduce measures to protect people from rising interest rates.

Another increase is expected, when the European Central Bank's governing council meets today.

A rise of 0.75% is anticipated.

If this comes to fruition 400,000 homeowners would see higher monthly mortgage repayments.

It would be the third interest rate hike in 2022 - between the three it would amount to 2%.

Economist Colm McCarthy says further increases are likely in the coming months:

Minister Paschal Donohoe says there are options available for mortgage holders:

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