The slowdown in the mortgage market is continuing, driven by a declining numbers of switchers and mover purchasers. The latest figures from Banking and Payments Federation Ireland show that just over 3,200 mortgages were approved in January – down almost 12% on the same month last year. Approvals dropped across all customer groups, with the […]
Inflation in the euro zone is expected to fall further but the European Central Bank needs more data before starting to cut interest rates, ECB Vice-President Luis de Guindos said today. The ECB has kept rates steady at a record high since September and consistently pushes back on rate cut talk, arguing that wage growth […]
CEOs in Ireland are more optimistic than in the previous two years as businesses adjust to geopolitical challenges, a new survey shows. The research carried out by business group Ibec reveals that 87% of respondents rate the outlook for the next six months as ‘good’ or ‘very good’, up from 66% last year. Meanwhile, 91% […]
The Governor of the Central Bank has warned of the heightened risk level associated with both the payment and e-money sector and the investment fund sector. Gabriel Makhlouf said concerns about the payment and e-money sector reflect significant control weaknesses found in firms operating in this market, “where their rates of growth and ambition have […]
New preliminary estimates from the Central Statistics Office show that average weekly earnings stood at €921.81 in the fourth quarter of 2023, up 2.1% compared with €902.56 in the fourth quarter of 2022. That rate of increase compares to an average inflation rate of 4.5% across the final three months of the year. Today’s CSO […]
The organisation representing the banking sector has warned that certain provisions contained in draft legislation aimed at ensuring continued availability of cash services pose a very real risk to the present and future competitiveness of the Irish retail banking sector. The Banking and Payments Federation Ireland (BPFI) also stated that the Access to Cash Bill […]
The Digital Services Commissioner at media regulator Coimisiún na Meán will tell an Oireachtas committee that it is not their job to act as an online censor. John Evans is due to appear before the Oireachtas Committee on Enterprise to discuss the operation and resourcing of Coimisiún na Meán. Earlier this month, the regulator assumed […]
A new estimate suggests that the domestic economy here grew reasonably strongly in December, despite challenging conditions. The “Nowcast”, produced by the Economic and Social Research Institute, predicts that Modified Domestic Demand (MDD) expanded by 3.7% in the month. That is up from 2.5% estimated for November. MDD is a measure of domestic economic activity […]
68% of workers aged between 20 and 69 have some form of pension cover outside of the State pension, new figures from the Central Statistics Office show. The number of people taking out a pension increases with age, according to the data. Just 33% of those aged between 20 to 24 had supplementary cover between […]
The commercial property vacancy rate nationally has increased to its highest level since GeoDirectory started tracking the data a decade ago. According to its latest Commercial Buildings Report, the vacancy rate increased by 0.3 percentage points to 14.3% in the year to the end of December. In total, there were 30,046 empty commercial units across […]
