ECB governors stick to plan for multiple rate cuts despite global headwinds
European Central Bank officials are sticking to plans to cut interest rates multiple times this year, even as higher US inflation delays a pivot to looser policy by the US Federal Reserve and tensions in the Middle East keep oil prices high. Investors are rethinking what they expected to be a global easing cycle after […]
Waiver on development levies to be extended – Harris
Taoiseach Simon Harris said today there is capacity to build 60,000 homes a year and there is a need to continue the supply of new homes. Speaking on Today with Claire Byrne, he said that almost 33,000 home were completed last year. “I said we would build 250,000 more houses between 2025 and 2030. And […]
‘Green’ job postings jump 93%, but jobseekers wary
So-called ‘green’ job postings in Ireland are up over 90% since 2019, new data shows. The research from hiring platform Indeed highlights the growing demand for such roles, with sustainability now a top priority for many businesses. But the data suggests that companies are struggling to recruit for these positions, with searches by jobseekers down […]
ECB’s Lagarde says inflation more likely to ease but risks both way
Euro zone inflation is likely to decline further and the European Central Bank may cut interest rates if its long-standing price growth criteria are met, ECB President Christine Lagarde said today. “At the same time, the Governing Council is not pre-committing to a particular rate path,” Lagarde said, repeating the bank’s most recent guidance. “Risks […]
Government recorded surplus of €8.3 billion last year – CSO
New figures from the Central Statistics Office show that the general government balance showed a surplus of €8.3 billion or 1.7% of Gross Domestic Product (GDP) in 2023. This marked a slight decrease on the record surplus of €8.6 billion in 2022. The CSO said that total government revenue increased to €123.7 billion in 2023, […]
BPFI says SMEs face adjusting profit expectations as costs rise
Small and medium sized businesses will need to adjust their profit expectations in order to ensure the viability and continued growth of the sector, a new analysis has suggested. Publishing its latest SME Monitor, the Banking and Payments Federation Ireland (BPFI) also said that more strategic Government supports for small and medium sized firms will […]
Job vacancies continuing to fall
The level of job vacancies continued to fall in the first quarter of the year according to the latest ‘Jobs Index’ from hiring platform IrishJobs. Vacancies were down by 3% compared to the previous quarter and declined by 28% on a year-on-year basis. The quarterly drop was the lowest fall in six successive quarters which […]
Diesel & petrol prices hit highest level so far this year
The latest AA Ireland fuel price survey shows that petrol and diesel prices have hit their highest level so far this year. AA Ireland said that petrol and diesel prices have increased over the last few weeks after a fall was reported in March. Petrol prices rose to €1.81 a litre in April, while diesel […]
EU new car sales drop by 5.2% in March, says ACEA
New car sales in the European Union fell by 5.2% year-on-year in March, marking the first decline this year and the biggest since July 2022, Europe’s auto industry body said today, citing the impact of early Easter holidays and a market downturn. Top European carmakers Volkswagen and Stellantis have said the market will be tough […]
Property price growth speeds up to 6.1% in February – CSO
New figures from the Central Statistics Office show that residential property prices grew at the fastest annual pace in just over a year in February. Property prices increased by 6.1% in February compared to growth of 5.4% a month earlier, the CSO said. Year-on-year price growth had cooled from a recent peak of 15.1% in […]
Confirmed euro zone inflation fall bolsters ECB’s June rate cut plan
Euro zone inflation slowed across the board last month, reinforcing expectations for a European Central Bank interest rate cut in June, even as rising energy costs and a weak euro cloud the outlook, final data from Eurostat showed today. Inflation in the 20 nations sharing the euro currency slowed to 2.4% last month from 2.6% […]
Govt agrees to delay date of Patent referendum
The Government has agreed to defer the date for the referendum on the EU’s Unified Patent Court, Minister for Enterprise Peter Burke has confirmed. It was expected that the referendum would take place on 7 June, the same date as the local and European elections. “While the Government continues to believe that joining the UPC […]
Both exports and imports fall in February – CSO
Ireland’s exports and imports fell in February, according to the latest figures from the Central Statistics Office. Goods exports in the month were worth €15.9 billion on an unadjusted basis, down more than €700m from the same time last year. Imports amounted to €10 billion, down more than €1.1 billion. Today’s CSO figures show that […]
Makhlouf expects that ‘all things equal’ the ECB will cut interest rates in June
The Governor of the Central Bank has said he expects that “all things equal” the European Central Bank will cut interest rates in June. However, Gabriel Makhlouf said he remains open-minded about the path which interest rates might take after that. “I think we’re pretty close to it now,” the Governor told CNBC in an […]
‘Significant’ drop in job openings in first quarter
There was a “significant” drop in job openings in the first quarter of the year, according to the latest Quarterly Employment Monitor from recruitment firm Morgan McKinley. The research showed a 13.8% decrease in job openings compared with the previous quarter and a year-on-year decline of 29.6%. The first quarter of the year saw a […]
Global cooperation needed around systemic risks from non-bank sector – Makhlouf
The Governor of the Central Bank has called for continued global coordination that will lead to progress in dealing with systemic risks arising from the non-bank sector. Gabriel Makhlouf said the existing regulatory framework provides a good starting point to deal with the issues, but has not been designed for this purpose. Speaking in Washington […]
Euro zone inflation heading to 2% after ‘bumpy’ road – ECB’s Lane
Euro zone inflation is heading to the European Central Bank’s 2% target next year after a “bumpy” road that will see it hover near current levels for now, the ECB’s chief economist Philip Lane said today. “Even if the near-term inflation outlook is somewhat bumpy, the projected convergence of inflation to the target in 2025 […]
Construction activity returned to growth in March
Construction activity rose in March for the first month since June of last year and at the most marked rate for nearly two years, new data shows. The BNP Paribas Real Estate Ireland Construction Index hit 51.6, just above the 50 mark that signals no change. The growth was propelled by renewed expansion in both […]