Gilmore rejects call to intervene in AIB rate decision

The Tánaiste Eamon Gilmore has rejected calls for the Government to intervene with AIB on their recent interest rate increase.

It comes after the bank announced another 0.5% rate hike yesterday for variable mortgage holders, the second such rise in as many months.

In the Dáil, Independent TD Shane Ross pleaded with Mr Gilmore to insist the increase does not go ahead.

However, the Tánaiste said that is not something the Government will do.

Mr Gilmore said: "I think in terms of commercial decisions by AIB, I think you would be the first to criticise the Government if it sought to do a kind of hands-on decision-making in the banks in relation to commercial decisions."