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Dáil Éireann díospóireacht -
Tuesday, 17 Oct 1995

Vol. 457 No. 1

Written Answers. - Interest Rates.

Séamus Hughes

Ceist:

80 Mr. Hughes asked the Minister for Finance the average rate of interest paid on demand deposit accounts up to £5,000 by the associated banks for each of the years from 1934 to date in 1995; and the corresponding rise in the consumer price index. [15031/95]

The material requested by the Deputy in relation to interest rates is not available in the format sought. However, the following table of interest rates, compiled from information provided by the Central Bank of Ireland, shows associated bank demand deposit interest rates prevailing at the end of each quarter since 1934. A further table shows average rates of increase in the consumer price index in each year since 1934.

Deposit rates for amounts less than £5,000 at end-Quarter (%)

Year

Q1

Q2

Q3

Q4

1934

1.00

1.00

1.00

1.00

1935

1.00

1.00

1.00

1.00

1936

1.00

1.00

1.00

1.00

1937

1.00

1.00

1.00

1.00

1938

1.00

1.00

1.00

1.00

1939

1.00

1.00

1.50

1.00

1940

1.00

1.00

1.00

1.00

1941

1.00

1.00

1.00

1.00

1942

1.00

1.00

1.00

1.00

1943

1.00

1.00

1.00

1.00

1944

1.00

1.00

1.00

1.00

1945

1.00

1.00

1.00

1.00

1946

1.00

1.00

1.00

1.00

1947

1.00

1.00

1.00

1.00

1948

1.00

1.00

1.00

1.00

1949

1.00

1.00

1.00

1.00

1950

1.00

1.00

1.00

1.00

1951

1.00

1.00

1.00

1.00

1952

1.50

1.50

1.50

1.50

1953

1.50

1.50

1.25

1.25

1954

1.25

1.00

1.00

1.00

1955

1.00

1.00

1.00

1.50

1956

1.50

1.50

1.50

1.50

1957

1.50

1.50

2.50

2.50

1958

2.00

1.50

1.25

1.00

1959

1.00

1.00

1.00

1.00

1960

1.50

2.00

2.00

1.50

1961

1.50

1.50

2.50

2.00

1962

1.50

1.25

1.25

1.25

1963

1.00

1.00

1.00

1.00

1964

1.50

1.50

1.50

2.50

1965

2.50

2.50

2.50

2.50

1966

2.50

2.50

3.50

3.50

1967

3.00

2.50

2.50

4.25

1968

4.25

4.25

4.25

3.50

1969

4.50

4.50

4.50

4.50

1970

4.50

4.50

4.50

4.50

1971

4.50

3.75

3.75

3.00

1972

3.00

3.00

4.00

4.00

1973

6.50

7.00

7.00

8.00

1974

8.00

8.00

8.00

8.00

1975

7.75

7.25

7.25

7.25

1976

6.00

6.75

6.75

8.50

1977

6.00

5.00

4.00

3.00

1978

3.00

6.00

6.00

8.50

1979

8.50

10.00

10.00

10.00

1980

10.00

11.50

8.50

7.50

1981

7.50

8.25

10.00

10.00

1982

11.00

11.00

9.25

8.50

1983

10.00

9.00

7.00

7.00

1984

7.00

7.00

7.00

8.00

1985

8.00

6.75

4.25-4.50

4.25-4.50

1986

6.00

4.00-5.50

4.00-5.50

6.00-8.50

1987

6.00-8.50

5.00-6.50

3.50-5.00

3.00-4.50

1988

3.00-4.50

2.00-3.00

2.00-3.00

2.00-3.00

1989

2.00-3.00

3.00-4.00

3.75-5.00

4.75-6.00

1990

5.00-7.00

4.50-6.75

4.00-6.25

3.50-5.75

1991

4.00-6.50

3.50-6.00

3.00-5.25

3.00-5.25

1992

3.50-5.50

3.00-5.00

3.50-5.00

6.00-7.00

1993

3.00-4.00

1.00

0.50-1.00

0.25-1.00

1994

0.25-0.75

0.25

0.25

0.25

1995

0.25-0.75

0.25-0.75

0.25-0.50

Change in consumer price indices, 1934 to 1994(%)

1934

0.7

1935

2.6

1936

2.6

1937

6.2

1938

1.8

1939

2.9

1940

15.2

1941

10.2

1942

10.6

1943

12.4

1944

5.0

1945

-0.3

1946

-1.4

1947

5.9

1948

3.3

1949

1.0

1950

1.0

1951

7.9

1952

8.3

1953

5.8

1954

0.3

1955

2.6

1956

4.3

1957

4.1

1958

4.4

1959

0.0

1960

0.5

1961

2.7

1962

4.2

1963

2.5

1964

6.7

1965

5.0

1966

3.0

1967

3.2

1968

4.7

1969

7.4

1970

8.2

1971

8.9

1972

8.7

1973

11.4

1974

17.0

1975

20.9

1976

18.0

1977

13.6

1978

7.6

1979

13.2

1980

18.2

1981

20.4

1982

17.1

1983

10.4

1984

8.6

1985

5.4

1986

3.9

1987

3.2

1988

2.1

1989

4.0

1990

3.4

1991

3.2

1992

3.0

1993

1.5

1994

2.4

The year-on-rate of change in the consumer price index was 2.5 per cent at mid-February 1995, 2.8 per cent at mid-May and 2.4 per cent at mid-August.
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