Last month, the Central Bank told the truth, the whole truth, and (almost) nothing but the truth.
This month, it is doing the same.
[broken link removed]
"The weighted average interest rate on new mortgage agreements (excluding renegotiations) stood at 3.38 per cent in October. This represents a decline of 32 basis points over the past twelve months. The equivalent euro area rate was 1.74 per cent."
So they focus on the true rate.
And they publish the comparative euro area figure. I don't think that they had done this before last month.
They still publish the meaningless renegotiated figure, which is a pity. But don't bother highlighting a comparable Euro area figure.
Brendan