Irish homeowners warned higher mortgage rates on the way

The European Central Bank is raising rates in an effort to fight inflation

Prices are surging across the eurozone. Picture:

Irish homeowners have been warned mortgage rises are almost certainly on the way in the coming months as European officials signal rates increases.

The European Central Bank (ECB) has signalled it could raise rates by as much as 75 basis points as it aims to tackle inflation across the eurozone.

This would come on top of a combined 125 basis point increase over the ECB’s last two meetings.

While Irish retail banks have so far ...