TSB raised its interest rates yesterday, making it the last major bank to move in the latest round of rate increases. The EBS is the only major institution to leave its rates unchanged.

The bank's rates have increased by between a quarter and a half point, in line with most other increases. TSB's variable mortgage is now 7 per cent (7.2 per cent APR), an increase of 0.25 of a point. Deposit rates would also be increased by similar amounts, the bank said.

Market report: The Irish market fell back slightly yesterday in contrast to other European markets. The FTSE 100 reached a record high as talk of possible US attacks on Iraq pushed world oil prices to post Gulf War peaks. The Dow Jones also set a record high.