Mary Upton (Dublin South Central, Labour)
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Question 159: To ask the Minister for Finance his views on the fact that another interest rate increase will place Ireland in the high risk category of experiencing a sharp house price reversal; if his Department has conducted an assessment of the implications of a house price reversal for the economy; and if he will make a statement on the matter. [10219/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I do not accept as a fact that another interest rate increase will place Ireland at high risk of a sharp house price reversal. House price inflation has moderated in recent months. The consensus is that a soft landing remains a more likely outcome for the housing market. My Department monitors all developments which can have an impact on the economy.