Variable Rates going up?

[Kate10]

Did anyone read today's Independant re Permanent TSB putting up its standard variable rate by up to .75% within a week or two followed by a potential further .25% within a couple of months? Scary stuff! I thought they would go up but thought it wouldn't be until early next year and then that more gradual increases would be imposed. According to the article it's likely that AIB and BOI will wait a month or two and then do the same. It makes sense to me that they would do this/have to do this given that Bank margins are under so much pressure etc.

Has anyone heard anything re AIB or BOI yet?

Kate.

 

[Trustmeh]

What annoys me here is that we are told they have to raise rates to increase margins. Why don't they cut costs? Have they fired any employees in the last year?