ECB rate rises ‘cannot be ruled out’

A TOP European Central Bank figure warned yesterday further rate hikes cannot be ruled out, despite suggestions to the contrary.

Further increases would undermine Irish house prices which have been falling according to a new survey.

Since October house prices have gone down 3% in Dublin and by 10% in Galway. Asking prices elsewhere have held with the exception of Meath down 4.1%, Cavan 3.9% and Tipperary 3.1%, according to a daft.ie survey, Ireland’s biggest property website.