Irish mortgage interest rates stay above eurozone average as ECB considers a 10th hike

The ECB have raised interest rates by 4.25% in an effort to get inflation to 2%.

The European Central Bank is set to meet again on Thursday afternoon and experts are split on whether the regulator will impose a 10th interest rate hike.

Interest rates on new mortgages crept upwards again in the month of July to reach 4.06%, up from 4.04% in the previous month, a full year after the European Central Bank (ECB) began its aggressive campaign of hikes to drive down sticky inflation.

The latest figures by the Central Bank showed interest rates on new mortgage agreements stayed above the eurozone average of 3.86%, but only slightly.