asked the Minister for Finance whether the Irish bank rate will continue at the present figure; and whether there is any likelihood of an increase.
Ceisteanna—Questions. Oral Answers. - Irish Bank Rate.
28.
I assume the Deputy is referring to the rate charged by the Associated Banks on ordinary overdrafts. This rate and the rates paid by the Associated Banks on deposits are necessarily influenced by rates of interest elsewhere particularly in Britain. In view of the uncertainties in the international monetary situation and prospects I cannot give any firm opinion as to whether or not there is a likelihood of an increase in interest rates.
Have there been any discussions by the banks on the likelihood of an increase in the bank rate?
I am not aware of any but, as the Deputy will appreciate, I would not be in possession of that information.