We are borrowing €1bn per month for home loans, says Central Bank

THE country is continuing to borrow voraciously securing €1 billion per month to buy houses the latest Central Bank figures show.

It also shows we are moving deeper into debt as the adjusted annual growth rate for private-sector credit grew stronger in June.

Top economist Alan McQuaid of Bloxham Stockbrokers warned we are still borrowing at four times the European rate and that trend is likely to continue.