Banking

Banks to defend sector’s ‘balanced approach’ in the face of ECB rate hikes

Dáil finance committee to meet with main lenders to discuss impact of increased interest rates on consumers

AIB: Lender will join rivals Bank of Ireland and Permanent TSB in meeting the Dáil’s Finance, Public Expenditure and Reform committee will on Wednesday. Picture: Aidan Crawley

Lenders in Ireland are “closely monitoring” the impact that increased interest rates are having on customers after a tenth successive rise by the European Central Bank (ECB) earlier this month.

TDs and Senators on the Dáil’s Finance, Public Expenditure and Reform committee will on Wednesday hear from the country’s main lenders - Bank of Ireland, AIB, and Permanent TSB - to discuss the impact of increased interest and borrowing rates in light of persistent inflation ...