Pearse Doherty (Donegal, Sinn Fein)
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Decreasing, yes. People should not bank on that just because economists have told them it would happen. However, there are people out there who are now thinking about what to do with their tracker rate. They are wondering whether to move to a fixed rate or whether the economists are right in what they have suggested, which is a decrease in March. They were thinking April before last month but now they are thinking about March and that there will be further stepped decreases throughout 2024 and 2025. They are not suggesting we will go anywhere near where we were but rather that there will be small decreases along that pathway. When does Mr. Makhlouf believe the ECB, or he himself as Governor, could give an indication? He has indicated in his opening statement that it is to hold. If things remain the same - and things can change - the ECB is unlikely to increase rates again so it is a question of holding at this point in time.