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AIB & ECB Rate increase

  • 25-07-2011 9:32am
    #1
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭


    AIB don't seem to have increased their variable rate since the ECB increase.
    normally they'd increase their own rates overnight, with a little bit extra added in. very unusual.


Comments

  • #2
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    the groutch wrote: »
    AIB don't seem to have increased their variable rate since the ECB increase.
    Correct. The idea of a variable rate is that the bank sets it, not the ECB.
    Irish Times
    the groutch wrote: »
    normally they'd increase their own rates overnight, with a little bit extra added in. very unusual.
    I'm afraid this is just wrong. AIB never change pass on rate increases immediately, it's usually within 1 to 2 weeks. As above, the variable rates are set completely independent of ECB rates, nor do they add " little bit extra".


  • #3
    reps4
    Registered Users, Registered Users 2 Posts: 170 ✭✭reps4


    hi,

    what is the current aib variable rate.

    thanks.

    Sorry- i meant the current variable mortgage rate.

    I wonder is the goverment controlling if they pass on the ecb rise or not. i dont think BOI have increased rates either?


  • #4
    JTMan
    Registered Users, Registered Users 2 Posts: 5,557 ✭✭✭JTMan


    the groutch wrote: »
    AIB don't seem to have increased their variable rate since the ECB increase.
    normally they'd increase their own rates overnight, with a little bit extra added in. very unusual.

    AIB increased a lot of their variable rate deposit products but not all.


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