Oireachtas Joint and Select Committees
Thursday, 20 October 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank (Variable Rate Mortgages) Bill 2016: Discussion
10:00 am
Kieran O'Donnell (Fine Gael) | Oireachtas source
Well done. The Central Bank can then move in. If the average is kept high due to a lack of competition in the market, there could be an unintended consequence. If there were competition in the market, it would drive down the average rate and, even at a rate that is one third higher than average, the individual would be getting a better rate than if there were no competition in the market.
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