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Euro zone inflation is set to fall back to the European Central Bank’s 2% target by next year so an interest rate cut could come possibly as soon as June, Bundesbank President Joachim Nagel said today. “The probability is increasing that we will see the first rate cut before the summer break,” Nagel told an…

Notices that work was beginning on 3,699 new homes across the country were received in February, new data from the Department of Housing shows. This is up 85% on the number of new homes commenced in the same month last year. The Department said this is the highest number of units started in the month…

State-induced employment support measures will increase payroll costs for the tourism sector by €456m this year, a new analysis claims. Between now and 2026, the cost of the policy changes for the industry, which employs nearly 285,000 people, could be up to €1.4 billion, the report finds. “Such an increase in payroll costs, above and…

New figures from the Central Statistics Office show that residential property prices rose by 5.4% in the 12 months to January, up from 4.1% the previous month. The CSO said that Dublin residential property prices saw an increase of 4.5%, while property prices outside Dublin were 6.1% higher than a year earlier. Today’s CSO figures…

Britain posted a larger budget deficit than expected in February, boosted by cost of living payments and the effect of past inflation on the public finances, official data showed today. Public sector net borrowing, excluding state-owned banks, was £8.40 billion last month, down from £11.84 billion a year ago, the Office for National Statistics (ONS)…

Almost €750m was paid last year to Revenue in unpublished tax settlements with more than €200m of that linked to the finance and insurance industries. The Revenue Commissioners said the 20 largest settlements – specific details of which are not made public – accounted for €383m in tax payments, or an average of around €19.2m…

Housing is viewed as the top challenge for US firms operating here, a survey of members of the American Chambers of Commerce in Ireland has found. 98% of members cited the availability of residential accommodation as challenging for staff in their business operations in Ireland, with 73% saying it was either extremely or very challenging.…

Minister for Finance Michael McGrath will update Cabinet this morning on new EU fiscal rules which will require every member state to publish their net expenditure plans for the following four to five years. The rules could be in force as early as May, after which the 27 members of the EU will not be…

Irish exports jumped 22% in January when compared to the same month of 2023, according to the Central Statistics Office. There were more than €18.9 billion in exports in the month – €3.42 billion more than January of last year. Most of the increase came from a pick-up in trade to the US – the…

The European Central Bank will be in position to discuss an interest rate cut in June, Vice President Luis de Guindos said today, joining a long list of policymakers putting the June 6 meeting on the table for a potential start of policy easing. ECB President Christine Lagarde earlier this month said the bank was…