The European Central Bank has increased interest rates by 0.5%- the first rise in 11 years.
It will be passed on to nearly 300,000 people in Ireland on tracker mortgages.
It could also be passed on to 200,000 Irish customers on variable mortgages.
The ECB made the announcement today, in a bid to tackle rapidly rising inflation.
We raised interest rates by 0.5%.
See our latest monetary policy decisions https://t.co/7arxAFKnmc pic.twitter.com/mCInj0jyaM— European Central Bank (@ecb) July 21, 2022
Follow @98FM online for all the latest news
