Irish homeowners face mortgage hikes as banks raise rates again following fresh ECB increase

Tens of thousands of homeowners will face higher costs on their mortgage repayments as Irish lenders confirmed they would hike interest rates following a rate-hike from the European Central Bank today.

The European Central Bank implemented a fifth successive rate hike this afternoon, increasing its main lending rate by half a percentage point to 3 per cent as part of its ongoing bid to battle inflation.

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