Bank watch: Who is passing on the interest rate cut?
UPDATE: The ECB has again cut its main interest rate. Last month the Irish banks were slow to pass on the cut until the Government stepped in. Which banks will pass on the most recent cut to its customers?
The European Central Bank has cut its main interest rate by a quarter percentage point from 1.25 per cent to 1 per cent. Last month there was controversy as a number of Irish banks refused to pass on a previous cut and the Government stepped in. So far, the following banks have made their intentions known with regard to the new cut:
Bank of Ireland said its standard variable rate is being reduced by 0.15 per cent...
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