Noonan to use bank meetings to seek cut in variable mortgage rates

The Finance Minister Michael Noonan will put pressure on bank chiefs to cut variable mortgage rates in a series of meetings this week.

Noonan is expected to publish a report by the Central Bank comparing each of the banks variable rates with the rest of the market on Thursday.

Minister Noonan will meet with the chief executive of AIB David Duffy today, whose bank is due to pass on rate cuts to its customers and those at EBS from next month.