Bank of Ireland to hike consumer deposit rates
Bank has announced a slew of changes to its main savings products
Bank of Ireland has announced plans to raise the deposit rates on a number of its accounts from next week.
Following moves by the European Central Bank to interest rate increases, banks in Ireland have begun to face pressure to pass on the benefits of these changes to customers with savings accounts.
Last week, Michael McGrath, the Minister for Finance, said he expects banks to pass on rate rises for depositors over the coming weeks.