Watch out for any government minister calling for the banks to pass on the rate cut

Brendan Burgess

Founder
Messages
38,095
Government ministers have been very consistent in telling us that they have no statutory role in setting the interest rates of PTSB.

If you see or hear them calling on the banks generally to pass on the cuts, contact the show or the journalist and ask them to explain why they don't suggest it to the bank which they own.

Please also post it here
 

The_Banker

Frequent Poster
Messages
330
PTSB havent come out and said anything yet but on the 9 o'clock news tonight RTEs economic corresspondent (David Murphy) said he 'understands' that PTSB will make an announcement that they will cut rates by more than a quarter percent in the coming days.

Nothing concrete but if true it will be a further small step in the right direction.
 

itsallwrong

Frequent Poster
Messages
327
Eternally optimistic as I am, I'll believe it when I see it.
They passed on .25% of the 3% ECB cut in the last 3 years.
With the end of the money bag being scraped, I would find it hard for them to pass it on given their financial
position but on the other hand it's long over due and the only thing they can do to remotely please thier tied customers.
 
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