The Central Bank figures show that Ireland had an average interest rate of 4.31% in March - the sixth highest rate in the euro zone, up one place from February.
The Central Bank said that the total volume of new mortgage agreements in March fell by 2% from February to €630m. This marked an annual decrease of 14%. Commenting on today's figures, Daragh Cassidy, Head of Communications at Bonkers.ie, said that Irish mortgage rates are now at their highest level since at least August 2017.
Bank of Ireland has also introduced a new, flat variable rate of 4.15% for all customers regardless of the loan-to-value ratio whereas previously it was as high as 4.75% in some cases.Daragh Cassidy also said that from June, it is almost guaranteed that the ECB will start cutting interest rates.
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New Zealand's central bank key rate at 5.5%New Zealand's central bank held its cash rate steady today, as expected, cautioning that interest rates need to remain restrictive for a sustained period to drive inflation down to its 1% to 3% target.
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