asked the Minister for Finance if the interest rates prevailing in Ireland at the present time are among the highest in the European Community.
Written Answers. - Interest Rates.
271.
Contrary to a recent statement reported in the media, interest rates here are not among the highest in the European Communities. The table hereunder, based on the latest information available, indicates that the prime commercial lending rate in Ireland is now third lowest in the Communities. It should also be noted that rates here are still lower than corresponding UK rates despite the recent sizeable reduction in MLR.
Prime Commercial Lending Rates
|
% |
|
|
Belgium |
.15.75 (end-October) |
|
Denmark |
.18.40 (end-September) |
|
France |
.14.40 (end-October) |
|
Germany |
.11.51 (end-October) |
|
Ireland |
.14.00 (end-November) |
|
Italy |
.20.08 (end-September) |
|
Luxembourg |
. n.a. |
|
Netherlands |
.10.75 (end-October) |
|
UK |
.15.00 (end-November) |