People with tracker mortgages can expect cheaper monthly repayments, after the ECB cut its main interest rate.
The rate's fallen to a new all-time low of 0.15 per cent.
However the move could mean higher repayments for people with variable rate mortgages.
Fianna Fáíl's Michael McGrath is warning that banks will be tempted to raise their other rates, because they're losing so much money on trackers: