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Francesca McDonagh interview: Supply is cause of housing crisis, not lending caps, says Bank of Ireland chief

Interview: Francesca McDonagh hopes sale of State’s stake in the bank heralds a new era

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“The real issue is not the macro-prudential rules. The issue is the gap between supply and demand," says Francesca McDonagh. Photo: Naoise Culhane

“The real issue is not the macro-prudential rules. The issue is the gap between supply and demand," says Francesca McDonagh. Photo: Naoise Culhane

“The real issue is not the macro-prudential rules. The issue is the gap between supply and demand," says Francesca McDonagh. Photo: Naoise Culhane

Francesca McDonagh, CEO of Bank of Ireland Group, says  there is no point in loosening the Central Bank of Ireland (CBI) mortgage rules when a shortage in the supply of homes is at the heart of the current housing crisis.

The Central Bank is currently carrying out a detailed review of its macro-prudential lending rules, sparking hope among some first-time buyers that they might be able to take out bigger loans as house prices rise.


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