'Yesterday's seventh hike in mortgage interest rates is aimed at depressing the economy and reducing inflation'

'The Taoiseach says the government will consider introducing a mortgage relief scheme, amid rising interest rates'

Deputy Tully says that mortgage repayments are rising by thousands of Euro a year with some people paying interest rates of up to 8%.

I think that the banks have been quite responsible in keeping the variable rate low.

It will definitely be passed on to nearly 300,000 people here on tracker mortgages.

Minister of State at the Department of Finance, Sean Fleming, says Credit Unions are immune from the ECB move.

Homeowners on variable or tracker rates look set to face higher repayments soon.