Seanad debates

Thursday, 12 June 2003

Interest Rates Reduction: Statements.

 

The Minister and the Department could monitor this to see if other banks which have conceded the 0.5% interest rate cut are reluctant to accept customers with borrowings from banks which have not passed on the rate cut. This is where competition can be blurred. I would like to think that the route we are taking is one that will lead to greater competition because ultimately the market determining attitude and actions is the best possible way of achieving a better deal for consumers.

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