The Finance Minister will meet the heads of the country's six banks in a series of meetings between today and Thursday, when he's expected to pressure them into cutting variable interest rates.
Today Michael Noonan will meet with the chief executive of AIB David Duffy, whose bank is due to pass on rate cuts to its customers and those at EBS from next month.
Minister Noonan is expected to confront the CEOs with the findings of a report he requested from the Central Bank which compares each of the banks variable rates with the rest of the market.
Bank of Ireland and Permandent TSB are expected to bear the brunt of the pressure, after both cut rates recently but only for new customers.
