AIB's interest rate hike is outside the bank's control as there's pressure on interest rates around the world.
That's the view of a mortgages expert who expects most Irish banks to put up their rates.
It's after the bank announced it's increasing interest rates for new fixed rate mortgages by 0.5 per cent.
CEO of OnlineApplication.com Karl Deeter says AIB's hike isn't too high:
"I think that when you look at what's happening in the markets, that it is actually quite a conservative increase height by AIB because at the moment, it's actually cheaper for a person to borrow, than it is for the country to go out in the markets and borrow, and that's a very topsy-turvy situation from a risk perspective, a person should always be a greater risk than the nation, and that's upside down at the moment so that's why this is happening. And that's why this trend is set to continue."
