ECB cuts interest rates – Pearse Doherty says lenders must pass it on

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The European Central Bank has cut it’s key interest rate by point-two-five per cent.
It’s the second cut in as many months – with the rate now standing at one per cent.
Meanwhile – the Tánaiste’s promised to again haul in banks to force them to cut interest rates if necessary.
Last month the Government applied pressure on banks to pass on a rate cut from the E-C-B.
Sinn Féin’s Finance spokesperson Pearse Doherty says the Government needs to stand up to the banks once and for all:


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