Central Bank confirms Irish lenders slower to pass on rates to savers 

Figures from the Central Bank of Ireland show Irish savers have been slower to see rate hikes as deposit bases rise and competition falls

The European Central Bank (ECB) is will meet next week to discuss the possibility of an additional hike in interest rates. (Photo by DANIEL ROLAND/AFP via Getty Images)

Irish deposit holders have been largely excluded from Europe's rising interest rate environment, with early evidence from the Central Bank of Ireland confirming that Ireland's transmission of the European Central Bank's (ECB) monetary policy has been "weaker to overnight deposit rates, especially for households."

Published as part of its Economic Letter series, the Central Bank found significant variation across loan and deposit products in Ireland compared to the euro area, with both business and household overnight deposits even weaker now than before.