Christine Lagarde, ECB president, has said there is likely to be further interest rate rises. Sinn Féin deputy leader Pearse Doherty highlighted the case of a single mother whose mortgage repayments had soared by €700 a month. The trouble is that the EU inflation rate remains too high at 6.1pc, although it has come down from a high of 10.6pc last October. Yet Frankfurt is still worried that a sustained period of high inflation could provoke a flurry of wage claims, and costs, which would keep prices high indefinitely. As the squeeze on family finances worsens, Sinn Féin has called on the Government to reintroduce mortgage relief to give people breathing space.

Source: Irish Independent June 16, 2023 13:41 UTC