Irish banks push back against passing on ECB rate cut in full

Thursday's rate cut will shave €30 from the monthly repayment bill of tracker households. 

The Banking and Payments Federation Ireland, the business group for Irish banks, said that lenders here had passed "only" a third of the ECB rate hikes of the past two years

The European Central Bank delivered an interest rate cut on Thursday, but the benefits for Irish borrowers remain clouded, as Irish lenders push back against calls to pass on lower borrowing costs in full, industry experts have warned.     

In a widely expected move, the ECB unveiled a quarter point rate cut at its gathering in Frankfurt, the first since it started out almost two years on its aggressive campaign to fight inflation by driving eurozone borrowing costs to record high levels.