Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

This priority question relates to the issue of standard variable rate mortgages and, in particular, the issue of the excessive variable interest rates being charged by banks in Ireland to approximately 300,000 variable rate customers. The Minister concluded a series of meetings with the banks about a month ago and they have until 1 July, which is another week or so, to come up with their response to that series of meetings. Is the Minister satisfied with the response so far and does he expect further movement in the next week or so that will result in a reduction in variable rates before 1 July?

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