Kenny: No intervention over mortgage rate hike

The Taoiseach has ruled out any Government intervention to stop the latest AIB interest rate hike, despite the state owning the majority of the bailed-out institution.

Enda Kenny said it was a “commercial decision” by the bank to raise the interest rate by 0.5%, as Fianna Fáil said mortgage holders were being “screwed”.

The interest rate rose last week, just two days after AIB paid €1bn to senior unsecured bondholders.