Fixed interest rates look like they will drop by 1% to 1.5% over the next 12 to 24 months, according to Chris Nolan AIB agri adviser for Kilkenny, Tipperary and Waterford.

Nolan said that there were many years where the ECB rate was at 0% and highlighted the sharp increase over the last couple of years.

“We have a treasury team in the background in AIB and typically it’s their job to forecast where they see interest rates going.

“There is talk that interest rates are going to be coming down with the ECB. If you look at it based on where our treasury team are projecting fixed rates to be, it looks like interest rates will drop by anywhere from 1% or 1.5% over the next 12 or 24 months. But we won’t know until it happens,” he said.