We entered the COVID-19 crisis with our policy rate at 6.25% and were, as such, able to reduce it significantly by 275 basis points to 3.5% in a short pace of time.
The aim of the proposed new measures will be to help consumers make savings on their mortgage repayments, to support consumers considering switching their mortgage and to ensure that such activity takes place within a transparent framework that protects the best 9  Central Bank of Ireland - RESTRICTED interests of consumers.