Thursday October 29, 2020

Lenders eye ECB as PTSB raises its rates on solo run

ECB's warning over future rates means it could yet take policy action

4th May, 2014
Mario Draghi, ECB president. Picture: Bloomberg

Permanent TSB's announcement last week that its mortgage interest rates are set to increase from early next month came as a blow to its customers, and raised concerns that other banks were also poised to increase rates.

Permanent TSB announced that its standard variable rate for mortgage customers will rise from 4.34 per cent to 4.5 per cent from June 9.

Ciaran Phelan, chief executive of the Irish Brokers Association, said the bank knew that many of its...

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