Eurozone banks move swiftly to cut rates

DOZENS of banks across the Eurozone have moved swiftly to cut rates and, in most cases, passed on the full ECB cut to their customers.

Despite mounting criticism, the State’s two largest banks, Bank of Ireland and AIB, have made no decision following the latest rate cut. The banks are expected to make a decision by the middle of the week.

Permanent TSB said it also expected to make an announcement on the interest cut sometime this week.