Credit ratings agency Fitch Ratings yesterday sketched contrasting outlooks, predicting strong economic growth for Ireland, in the short term at least, but contrasting with an uninspiring picture for the rest of the eurozone.

Credit ratings agency Fitch has revised its outlook for Ireland to positive from stable.

Banks and borrowers could benefit from a cut in interest rates on standard variable mortgages.

One of the leading global credit rating agencies has given a broad endorsement to plans that could see courts given the power to limit the rates banks charge standard variable rate mortgage customers.

As the Government seeks to turbo-charge the recovery in the Irish property market, ratings agency Fitch is predicting that the arrears crisis will continue to grow as the buy-to-let sector fuels defaults and depresses prices outside of Dublin.