The outgoing Governor of the Central Bank says the institution was not interested in 'poking around' at the interest rates banks are charging because it is a politically sensitive issue.

In one of his last public appearances before retirement, Professor Patrick Honohan has again ruled out putting a cap or control on interest rates.

Patrick Honohan will retire from his post as Governor of the Central Bank in two weeks time.

This afternoon, Professor Honohan addressed the Small Firms Association Annual lunch in Dublin.

With accusations all year that some banks were gouging mortgage holders with high rates, he told them that the Central Bank is not interested in capping or controlling interest rates:

Professor Honohan refused to take media questions saying he was not the type to start commenting on things just because he was leaving the role.

The new Governor of the Central Bank has been named as Trinity College Professor Philip Lane.