House asking prices rose by average of 12% in last year
Asking prices for houses have risen by an average of 12.3% to €357,851 in the past year, according to the latest Daft.ie House Price Report. The report notes that this rate of house-price inflation is the highest since the Central Bank’s mortgage-lending rules were introduced in 2015. The rules, which are still in effect, limit […]
Will Iran-Israel conflict mean a rise in Irish petrol prices?
Analysis: Two key factors will determine if oil prices – and the price you pay for petrol and diesel – increase a little or rise a lot this week The price we pay for petrol and diesel in Ireland is significantly influenced by events occurring thousands of kilometres from our shores. This week, it is […]
Most workers expect pay rise this year – survey
Six out of ten workers in Ireland expect a pay rise this year, according to a survey by FRS Recruitment. That came as employees here felt more confident in their roles, with only 38% fearing for their job security compared to 47% a year ago. At the same time, 70% of workers believed they could […]
First time buyer property and mortgages rise significantly – BPFI
One in three first time buyer (FTB) homes were valued over €400,000 in 2024, three times the 2019 share, according to the latest BPFI mortgage report. The Mortgage Market Profile Report H2 2024, by Banking and Payments Federation Ireland shows that there has been a significant increase in FTB property and mortgage values between 2019 […]
EU increasingly resigned to 10% baseline tariff in US trade talks, European sources say
European officials are increasingly resigned to a 10% rate on “reciprocal” tariffs being the baseline in any trade deal between the US and the European Union, five sources familiar with the negotiations said. President Donald Trump has announced wide-ranging tariffs on trade partners and wants to reduce the US goods trade deficit with the EU. […]
UK budget deficit undershoots official expectations
Britain’s government borrowed less over the first two months of the 2025/26 financial year than official budget forecasters had expected, helped by an influx of taxes paid by businesses after a recent hike in social security contributions. Official data today showed public sector borrowing for May stood at £17.686 billion. While a Reuters poll of […]
Central Bank revises down housing and growth forecast
The Central Bank is revising downwards its forecast for how many homes will be built this year and over the following two years. It expects 32,500 will be finished this year, a reduction of 1,500 on its previous forecast last March. It says 37,500 will be completed next year, down 2,500 from its last projection, […]
Swiss National Bank cuts interest rates to zero
The Swiss National Bank cut its interest rate to zero today in response to falling inflation, appreciation pressure on the Swiss franc and economic uncertainty caused by the US administration’s unpredictable trade policy. The SNB reduced its policy rate by 25 basis points from 0.25%, as expected by markets and a Reuters poll. It was […]
US added over 1,000 new millionaires a day last year – report
Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a new report shows. Private individuals’ net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global […]
Amazon’s corporate workforce may shrink as AI takes over routine tasks
Rollout of generative AI and agents will reduce Amazon’s total corporate workforce in the next few years, Andy Jassy, CEO of the online retailer has said in a note to employees. Artificial intelligence is reshaping the global workforce by automating routine and repetitive tasks, and industry leaders expect this to prompt a reduction or transformation […]
Transatlantic airfares slump as Europeans skip US travel
Airfares from Europe to the United States have dropped to rates not seen since before the Covid-19 pandemic, as travellers from Western Europe lead a pullback in travel to the US that is expected to continue until at least next month. Overseas arrivals to the United States fell 2.8% in May from a year ago, […]
Climate body recommends rise in grants to buy EVs
The Climate Change Advisory Council (CCAC) is recommending that the Government provides an additional €10,000 in grants to low income households for the purchase of electric vehicles, particularly in areas with limited access to public transport. It is also calling for scrappage schemes and other transport-related incentives to help accelerate the switch to battery-electric vehicles […]
State sells final AIB shares 15 years after banking crisis
The State has sold its remaining shares in AIB, Minister for Finance Paschal Donohoe said today. The State sold a 2.06% stake in AIB at a price of €6.94 per share. This will generate about €305.3m upon settlement and brings to €19.8 billion the total amount returned to the State to date from its investment […]
Minimum standard of living costs rise by almost 20% since 2020 – SVP
Essential minimum living costs increased by 1.8% in the past year with a cumulative increase of 18.8% nationally since 2020. The figures are contained in the annual Minimum Essential Standard of Living (MESL) report published by the Society of Saint Vincent de Paul. The research team found that households with older children (second-level age) were […]
Household saving rate slows to 14% in first quarter
New figures from the Central Statistics Office show that households saved 14% of their income in the first three months of this year. This saving rate was down from 14.8% in the fourth quarter of 2024. The CSO said the saving adds to overall household wealth in the form of buying new homes, growing bank […]
Did Ireland’s ‘bad bank’ NAMA work?
At the height of the financial crisis in 2009 Ireland set up the National Asset Management Agency, better known as NAMA. Its purpose was to deal with the loans given by banks to developers and builders – many of which would never be repaid. By any measure, it was one of the biggest decisions in […]
ECB should neither signal pause nor rate cut, Nagel says
Euro zone inflation is now on target and no sustained undershooting is likely but the ECB should keep all of its options open for future policy moves amid exceptional uncertainty, Bundesbank President Joachim Nagel said today. The ECB has cut interest rates eight times since last June but signalled a pause in policy easing for […]
29% of adults in Ireland couldn’t go a full hour without internet – survey
A new survey reveals that 29% of adults in Ireland said they could not last a full hour without the internet. The annual Connected Lives survey from broadband and telecoms provider Pure Telecom also reveals that 40% of people would turn down €5m in cash if it meant they could never use the internet again. […]