Bank of Ireland under fire after standing still on variable rates

Bank of Ireland has been accused of snubbing the Finance Minister after it failed to reduce its standard variable mortgage rate.

Yesterday the bank said it is shaving 0.3% off all of its fixed rate offers.

But it has made no announcement on its variable rate, which stands at 4.5%.

Fianna Fáil Finance Spokesperson Michael McGrath claimed the bank's apparent refusal to drop its variable rate was not in any way acceptable.

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