Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We are seeing many indications now from central banks all over the world that they are going ahead with interest rate changes and also withdrawing the major emergency funding plans they had in place during the Covid-19 pandemic. It is not for me to speculate, and it would not be appropriate for me to do so, on what the ECB will do. I must recognise its independence. Mortgage holders in recent months have been making decisions anyway. We have seen the majority of new mortgages taken out by people agreed at fixed rates, which is a matter for them to decide, of course.

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