'More to go' when it comes to increases in saving deposit rates

Households likely to be put under pressure again as the European Central Bank is poised to introduce another 25 basis points interest rate hike this week
'More to go' when it comes to increases in saving deposit rates

Banks have been slow to raise deposit rates since the ECB started hiking interest rates last summer, but have instantly gained by increasing rates they charge for loans.

AIB and EBS increased their interest rates for deposit holders to 2% as cost-of-living pressures persist, but an industry expert says banks could still do more to help savers.

Michael Dowling of Dowling Financial said the interest rate increase from 1% to 2% for deposit holders by AIB and its subsidiary EBS will force Bank of Ireland and Permanent TSB to follow suit.

Already a subscriber? Sign in

You have reached your article limit.

Unlimited access. Half the price.

Annual €120 €60

Best value

Monthly €10€5 / month

More in this section

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited