Central Bank not interested in 'poking around' at banks' interest rates: Patrick Honohan

The outgoing Governor of the Central Bank has said the institution was not interested in "poking around" at the interest rates banks are charging because it is a politically sensitive issue.

In one of his last public appearances before retirement, Professor Patrick Honohan has again ruled out putting a cap or control on interest rates.

Patrick Honohan will retire from his post as Governor of the Central Bank in two weeks time.

In one of his last public appearances in the job, Professor Honohan today addressed the Small Firms Association annual lunch in Dublin.

With accusations all year that some banks were hitting mortgage holders with high interest rates, he told them that the Central Bank is not interested in capping or controlling interest rates.

"We have to have a banking system that works in an efficient way, and poking around at the most politically sensitive issue at any particular moment is not the way to get that working more effectively than it's working today," he said.

Professor Honohan refused to take media questions saying he was not the type to start commenting on things just because he was leaving the role.