For those of you who are questioning whether they would be as slow to apply rate increases as they are with the decreases (and further to my post above), I had a look back over previous PTSB statements, and it seems that for all of the ECB rate increases over the last couple of years, the increase in my mortgage payments came into effect at the end of the month after the ECB rate change was announced. So in my case at least, not applying the first .5% reduction until the end of this month is no different to what they have been doing for the increases, so I've no complaints. Again, this is what's been happening with me, and other posters who have mortgages taken out at other times in the month may have different experiences. But if you really want to know the answer, I suggest you search for the dates of previous ECB changes and look back over your previous statements to see.