Permanent TSB hikes fixed-rate mortgages by 0.75% as lenders play catch up    

Follows five rounds of interest rate increases from the European Central Bank, totalling 3%

The bank said that it was also increasing deposit interest rates by between 0.20% and 0.35%.        

Permanent TSB has hiked its fixed-rate mortgages across all maturity periods by 0.75%, or three-quarters of a point, in a further sign that Irish lenders are playing catch up with official interest rate increases already announced by the European Central Bank. 

The interest rate increases come as the ECB prepares to increase its official interest rates further when it meets next week, and amid concerns the central bank will continue to hike borrowing costs at subsequent meetings as it fights stubbornly high levels of inflation.