Boucher refuses to be drawn on BoI mortgage rates
The head of Bank of Ireland Richie Boucher has refused to be drawn on whether the bank plans to bring down their variable mortgage rates.
Earlier this month Bank of Ireland said it would keep their variable mortgage rates under review, after Permanent TSB's move to cut its rates.
Taoiseach Enda Kenny has hinted that October's budget could be used to "deal with the banks on the issue".
Bank of Ireland Chief Executive Richie Boucher was asked if the bank would respond to pressure from the Finance Minister Michael Noonan to lower their variable rate.
He said: "Well our policy on this has been consistent since earlier this year, we've focussed on fixed rates.
"What we look at is risk, our job is about mitigating risk as well as growing our business and from a customers point of view, the risk on repayments of mortgages are either if they lose their income or if the payments rise.
"So fixing the repayment means that you mitigate against the latter risk."
