Executive ministers have agreed to increase the regional element of rates bills in Northern Ireland in line with inflation.

Executive announces rates rise across NI

Belfast City Council has agreed an increase in the district rate of more than 5%.

Belfast residents facing district rates increase of more than 5%

Northern Ireland's 11 local councils have announced rates increases ranging from 5-8%

Three District Councils have now struck their rates for the new financial year and they're all set to rise.

The rates hike was confirmed at a special council meeting on Thursday night where they set domestic and non-domestic rates for the incoming year.

Chair of the Strategic Policy and Resources Committee, Emmett McDonough-Brown said the increase will allow the council to invest in services.

By late tomorrow we'll have a good idea on how the system of setting interest rates between banks, the Libor, is to be reformed.