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| Version 1 | Version 2 |
|---|---|
| Banks urged to pass on rates cut | Banks urged to pass on rates cut |
| (40 minutes later) | |
| The First and Deputy First Ministers are to lead an Executive meeting with the bosses of the four main banks in NI to discuss the economic downturn. | The First and Deputy First Ministers are to lead an Executive meeting with the bosses of the four main banks in NI to discuss the economic downturn. |
| Peter Robinson, Martin McGuinness and Finance Minister Nigel Dodds are expected to urge the banks to pass on interest rates cuts to customers. | Peter Robinson, Martin McGuinness and Finance Minister Nigel Dodds are expected to urge the banks to pass on interest rates cuts to customers. |
| Mr Robinson said the banks have a role to play in easing the credit crunch on households. | Mr Robinson said the banks have a role to play in easing the credit crunch on households. |
| He said both he and Mr McGuinness want to "get our economy moving." | He said both he and Mr McGuinness want to "get our economy moving." |
| "We have influence with the prime minister and he has power in this area, so we want to see what the banks are going to do," said Mr Robinson. | |
| "There are some indications that the reduction is being passed on by at least one of those banks. | "There are some indications that the reduction is being passed on by at least one of those banks. |
| "I'd like to see them all passing it on, that's what customers expect." | "I'd like to see them all passing it on, that's what customers expect." |
| Earlier this month, the Bank of England cut interest rates by one percentage point, from 3% to 2% - the lowest level since 1951. | |
| It followed a dramatic cut in November. |