Finian McGrath (Dublin North Central, Independent)
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Question 239: To ask the Minister for Finance if he will clarify a matter (details supplied). [39743/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy will be aware, in welcoming the European Central Bank's announcement on 6 November 2008 of a 0.5% reduction in its key interest rates, I highlighted that I would expect financial institutions to pass on these reductions to their customers including in particular to those purchasing properties on variable mortgages but also to small and medium-sized enterprises. This will help support sustainable growth and employment along with the maintenance of price stability in line with the ECB's objectives.