Terence Flanagan (Dublin North East, Fine Gael)
Link to this: Individually | In context

Question 187: To ask the Minister for Finance his views on a matter (details supplied) regarding ECB interest rate cuts; and if he will make a statement on the matter. [9781/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

Neither the Central Bank nor I have any responsibility for the variable mortgage interest rate charged by financial institutions. I have no powers to compel mortgage lenders to reduce to reduce their variable mortgage interest rates. However the Central Bank has advised me that within its existing powers it will continue to engage with specific lenders which appear to have standard variable rates set disproportionate to their cost of funds.