Lucinda Creighton (Dublin South East, Independent) | Oireachtas source

Many other banks include a link with market conditions. My point is that given the huge influence of the Central Bank and the European Central Bank in recent years, the increase seems extraordinary. I wonder how the bank can justify the increase in the interest rate for variable rate mortgage holders at a time when the Central Bank’s rate was and is running at almost zero. It is a major issue. I am trying to get to the bottom of the matter in terms of the bank’s logic as to why no account is taken of Central Bank rates.