Sinn Fein TD Pearse Doherty says the European Central Bank's interest rate rise is 'a hammer blow to mortgage-holders'.

The three main Irish banks say they won't pass on the ECB interest rise to variable and fixed rate mortgage holders, for now.

But tracker mortgage holders will see their rates increase by 0.75 per cent.

Deputy Doherty says Irish banks are set to benefit more from this than other European banks...

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