Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

156. To ask the Minister for Finance if he will provide a report on his meeting with Governor Honohan on 2 April 2015, listing all issues discussed, decisions taken and commitments made. [14423/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As Minister for Finance, I meet with the Governor of the Central Bank on a regular basis. Our latest meeting took place on 2 April 2015. The meeting covered a broad range of issues, among them the issue of mortgage interest rates. The Governor provided an update on the ongoing work that he and his officials are carrying out on the issue of the standard variable rates charged by the lenders.

We both noted that the standard variable rates charged in Ireland are higher than other euro area countries and have not fallen in line with ECB wholesale rates. The Central Bank will continue to research why this is the case and will publish results shortly.  The Governor will update me on progress in due course.