Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Donal McNally:

Well, I think it was because of the fast growth rate and the service sector inflation, which is part ... I mean, if you're catching up with other countries, you will find that that inflation will be a bit higher on the services sector side, which has less productivity than the traded side ... that that will tend to show higher rates with inflation. So, I think that was their motivation.

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