Archive for October 2024

Several European Central Bank policymakers argued their case today for another interest rate cut next week, even if some of their colleagues remained unconvinced as turmoil in the Middle East fuels volatility in energy costs. The ECB has already lowered rates twice this year and a cut to the 3.5% deposit rate on October 17…

The Governor of the Central Bank has the Government’s decision to increase spending above 5% over an extended period will aggravate price inflation and wage pressures. Gabriel Makhlouf said given current macroeconomic conditions, the continued expansionary fiscal stance adds unnecessary stimulus to an economy at full employment. The situation will undermine competitiveness and create risks…

The Government’s extensive legislation to overhaul the planning system is due to go before TDs tonight for a final vote. The proposed law will see An Bord Pleanála renamed to An Coimisiún Pleanála and a reformed process for taking judicial reviews introduced. Running to more than 900 pages, the legislation is a key part of…

The European Central Bank (ECB) will cut its deposit rate by 25 basis points on October 17 and again in December, according to more than 90% of economists polled by Reuters who now see a quicker decline in euro zone inflation. Only 12% of economists polled last month had predicted an October cut. But most…

The European Union has removed Antigua and Barbuda from its tax haven blacklist, an instrument that has been slammed as ineffective in the past by anti-poverty groups. The list, approved by the EU’s member states, now counts 11 jurisdictions deemed non-cooperative for tax purposes, particularly where it comes to sharing tax information. It now has…

Almost all business leaders are experiencing difficulties with hiring, retention, or both, new research has found. The study also revealed that the top hiring challenges encountered by enterprises include having an undesirable office location, which was cited by almost a third of respondents. A lack of the right skillsets in applicants was also referenced by…

Asking prices for homes have risen 7.5% over the last year, new data from listings website MyHome.ie shows. That is the highest rate of increase in two years, the latest house price report shows. It means the median price sought for a home nationally in the third quarter stood at €365,000. That represents an increase…

The European Central Bank will probably cut interest rates on October 17 as economic growth is weak and this raises the risk that inflation will undershoot its 2% target, French Central Bank Chief Francois Villeroy de Galhau told an Italian newspaper. The ECB cut rates from record highs twice already this year and markets now…

Oil prices fell today, after posting their steepest weekly rise in more than a year last week, as oversupply concerns amid softer demand countered the worries over a wider Middle East conflict disrupting exports in the key oil-producing region. Brent crude futures fell 28 cents, or 0.36%, to $77.77 per barrel early this morning, while…

Tax take between January and the end of September was up 11% on the same time last year, driven by corporation tax, income tax, VAT and excise duty. The latest Exchequer Returns show that €68.2 billion in tax was collected in the first nine months of the year. €17.8 billion came from corporation tax, up…