Banking

Irish lenders slower to pass on deposit rate increases, central bank confirms

New research found significant variation across loan and deposit products in Ireland compared with Europe

Central Bank of Ireland headquarters in North Wall Quay, Dublin. Picture: Fergal Philips

Irish lenders have been slower to pass on deposit interest rate changes from the European Central Bank (ECB) compared with our European counterparts, new data from the Central Bank of Ireland shows.

Research from the bank, examining interest rate “pass-through” from the ECB on a range of loan and deposit products between January 1999 and June 2023, found significant variation across loan and deposit products in Ireland compared to the euro area, with both business ...