None of the banks contacted by The Sunday Business Post said they were preparing to adjust their mortgage rates to benefit borrowers if the ECB cuts its benchmark rate by 0.25 per cent, a move that is expected after a perceived change in tone by ECB president Jean-Claude Trichet last week.

Bank of Ireland and Permanent TSB, which are the country’s top two mortgage lenders – and which recently increased their headline borrowing rates, even though ECB rates have been frozen since last summer - refused to comment on whether they would pass on the expected cuts to borrowers.

Continue reading from source:  ThePost.ie