P. J. Sheehan
Question:63 Mr. Sheehan asked the Minister for Finance the discussions, if any, he has had with his EU colleagues on the prospects of the ECB increasing interest rates. [22518/99]
Written Answers. - Interest Rates.
The setting of official interest rates for the EMU area has been the responsibility of the European Central Bank since 1 January 1999, when the third stage of Economic and Monetary Union began and Ireland and ten other member states adopted the single currency, the euro.
The ECB enjoys complete independence in relation to monetary policy matters.