Jan O'Sullivan (Limerick East, Labour)
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Question 102: To ask the Minister for Finance his Department's assessment of the implications for the economy here of the recent 0.25% increase in interest rates announced by the European Central Bank; and if he will make a statement on the matter. [39003/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The Irish economy is projected to grow at around its long-term sustainable growth rate of 4.5% to 5% over the next three years, as per the economic forecasts published in the stability programme update last week. The recent interest rate rise is unlikely to have a determining impact on this outlook. Its effect on inflation, through an increase in mortgage repayments, is incorporated in the consumer price index, CPI, projection of 2.7% in 2006.