The Taoiseach and Tánaiste have hit out at Bank of Ireland and Ulster Bank for refusing to cut their variable mortgage rates.

Both lenders yesterday said they had no plans to pass on historically low ECB interest rates to their customers - despite pressure from the Finance Minister to do so.

Tánaiste Joan Burton says she’s “never known bankers to be particularly grateful people" - and that maybe it “slipped their mind” that taxpayers had re-capitalised them at the bottom of the crash.

And Taoiseach Enda Kenny says it’s “wrong” for BOI and Ulster Bank not to cut their rates: