Comment: Peak in interest-rate cycle is visible on the horizon

While normally the preferred utterance of bored children on a long road journey, Irish homeowners could be forgiven for muttering the phrase ‘‘Are we there yet?” in relation to the path to the peak of interest rates.

10th March, 2007

While normally the preferred utterance of bored children on a long road journey, Irish homeowners could be forgiven for muttering the phrase ‘‘Are we there yet?” in relation to the path to the peak of interest rates.

With its well-telegraphed increase last Thursday, the European Central Bank (ECB) lifted interest rates to 3.75 per cent, their highest level in more than five years. What’s more, Monsieur Trichet effectively guaranteed that rates would...

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