Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I very much welcome the announcement of a reduction in the standard variable interest rate. This is a significant move by AIB and makes it a market leader in this regard. I hope it will trigger a round of further cuts by other banks. Does AIB management intend to put some money behind that move in terms of marketing to customers of other banks? Will it try to entice people who have their mortgage with Bank of Ireland, Ulster Bank or Permanent TSB and who are paying a higher interest rate compared with what AIB is now charging?