EBS to increase variable rate

Couple this with the almost certain .25% ECB rate rise in July means EBS customers will be receiving a double tap to the wallet over the next 2 months.
 
From my calculations the rate increase is actually 0.37% and not the advertised 0.25%. I just checked my online account and my rate is 4.43% so that's well over a 0.25% increase.
 
NorfBank said:
The 0.25% rise, which will see the SVR increase to 4.8%, will come into effect from August 1.

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My EBS SVR rate is currently at 4.43%, so an increase of 0.25% would 'only' bring it up to 4.68%
Does this mean that I'll get an increase of 0.37% to bring it up to 4.8% ?

Is this rise due to an increase in the ECB or are they just putting it up themselves?
 
If you look at what the banks are all doing, they are almost without exception changing their variable rates independent of ECB changes This is because their funding costs are not in fact linked to ECB at all, in fact they never were.

It was just in the "good" times, the ECB and market funding rates were quite close and moved in tandem. Now they do not. So hence the reason why I would suspect EBS will in fact not increase variable when ECB increases in July. This 25 is relating to the fact that for example, overnight Euro interest rates have risen about 0.30% in the last couple of weeks.
 
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