A Donegal TD is pleading with Irish Banks not to pass the increase in interest rates on to customers.
The European Central Bank announced yesterday that it was increasing interest rates by a record of 0.75 per cent. It follows a 0.5 per cent increase in July.
Irish people on tracker mortgages will automatically see their payments increase.
220,000 customers on variable mortgages are also likely to be affected.
Ireland’s three main banks decided not to pass the last increase on to customers.
The Sinn Fein Finance Spokesperson is Donegal TD, Deputy Pearse Doherty.
He’s calling on the Banks to absorb the increase:
