Allied Irish Bank has ruled out any drop in its mortgage interest rate following a meeting with Government officials this afternoon.
The bank met the Economic Management Council  made up of the Taoiseach, Tánaiste and Ministers for Finance and Public Expenditure – at Government Buildings today along with officials from Bank of Ireland and Ulster Bank.
The Government called the meeting in the hope of persuading the banks to pass on interest rate reductions without having to force them to do so through legislation.
Speaking after the meeting, AIB’s executive chairman David Hodgkinson (above) said Enda Kenny had raised the issue of struggling homeowners.

However, Mr Hodgkinson insisted the lender’s customers had already benefited from its decision not to raise rates in line with the European Central Bank over the summer.

Yes, we’re passive.

But there is a line.

Bald dude just crossed it.

AIB Rules Out Interest Rate Cut (Irish Times)

AIB Refusal To Cut Rate ‘Pathetic’ (RTE)