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The Central Bank has said the economy is expected to continue to grow strongly this year. Its latest Quarterly Bulletin forecasts growth in the domestic economy of just over 7% in 2022. However, inflation is expected to be higher for longer than previously thought, although it is expected to wane in the second half of…

Last year saw the highest number of mortgage drawdowns since 2009, worth a total value of €10.5 billion. 43,994 mortgages were drawn down in 2021, a 9.4% increase on the previous year. Figures from Banking and Payments Federation Ireland show the value of mortgage drawdowns last year was the highest since 2008, when the financial…

New research suggests that 65% of consumers don’t know how their credit card interest is calculated. The survey carried out by the Irish League of Credit Unions (ILCU) shows that this figure is up 7% on the previous survey conducted in 2020. Of the respondents who said they are familiar with the credit card interest…

Oil prices bounced back today, recovering some of the previous day’s losses, as growing tension in Eastern Europe and the Middle East fuelled concerns over possible supply disruptions. Brent crude futures rose 61 cents, or 0.7%, to $86.88 a barrel this morning after touching a session high of $87.27 a barrel earlier, reversing a 1.8%…

The Cabinet is set to sign-off on a €210 million legislative plan at their weekly meeting this morning, which aims to assist households struggling with the rising cost of electricity bills. Under the scheme, all domestic electricity customers will receive a once-off €100 credit, which will be operated by ESB Networks. The scheme will not…

The Governor of the Central Bank has said “the prospects for Ireland’s economy appear bright” but warned that the risks to inflation in Ireland remain “on the upside”. Gabriel Makhlouf made his remarks at on online webinar hosted by the Institute of Directors. On inflation, the Central Bank Governor said it is expected to remain…

A swift rebound in consumer and business spending is in prospect for 2022 as almost all pandemic restrictions come to an end, according to Goodbody’s latest quarterly outlook. The Back in Business report predicts growth in domestic demand of about 5.8% this year. The forecast tallies with that of Minister for Finance Paschal Donohoe who…

Employers can start bringing staff back into the workplace from today onwards, following the announcement of the easing of Covid-19 restrictions on Friday. However, unions have urged businesses to exercise caution and consult with staff as the process begins. Announcing the changes on Friday, the Taoiseach said the return to physical attendance in workplaces should…

The euro zone economic recovery weakened further this month as renewed restrictions imposed to contain the Omicron coronavirus variant put another dent in bloc’s dominant services activity and as prices continued to soar. With the variant sweeping across Europe governments have been encouraging citizens to stay home and avoid socialising or meeting in groups. IHS…

Danny McCoy, the chief executive of Ibec, has said the lifting of most Covid restrictions is a “positive development” and that a gradual return to the workplace can be done “that little bit faster”. Speaking on Morning Ireland, Danny McCoy said employers and employees would have to decide how best to proceed on returning to…