Inflation

Bank of Ireland confirms tracker mortage hike after ECB interest rates rise

The European Central Bank this afternoon had doubled its key interest rate to the highest level in more than a decade

European Central Bank president Christine Lagarde. Picture: Getty

Bank of Ireland has confirmed that tracker mortgage rates will increase for all tracker mortgage customers by 0.75 per cent following today’s increase in interest rates by the European Central Bank.

For most customers, this change will take effect from November 16, the lender said.

“Customers don’t need to take any action right now. Bank of Ireland will write to all tracker mortgage customers confirming the new interest rate, the effective date, and their new ...