Irish

Thursday 21 August 2014

Government borrowing costs at all-time low ahead of €1bn auction

Donal O’Donovan

Published 12/03/2014 | 11:45

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Minister for Finance Michael Noonan

THE Government’s cost of borrowing on international markets has fallen to an all time low this morning.

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It comes as officials prepare to borrow €1bn in an auction tomorrow morning.

Based on prices in the bond market today Ireland would have to pay an interest rate of 3.015pc to borrow for 10 years.

It’s the lowest price ever, the previous low was in June 2005 when borrowing costs hit 3.02pc.

At the height of the financial crisis, borrowing costs hit over 14pc.

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