European Central Bank policymakers are still leaning towards a half-percentage-point rate hike tomorrow, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB’s commitment to another big rate hike this week after the collapse of Silicon Valley…
Category Archives: News
Irish online consumers can be led into over consumption, over indebtedness and may lose out on fair pricing and terms due to online e-commerce practices by some sellers, according to the European Consumer Centre Ireland. Last year Irish people were the third biggest online shoppers in Europe after the Netherlands and Denmark. The European Consumer…
Non-bank lender, Finance Ireland, is increasing its fixed mortgage rates by up to 0.75%. The company said 5-year fixed rates will increase by 0.5%, while 3-year fixed rates will rise by 0.75%. The changes will take place from this Thursday. But the lender said that customers who have a loan offer by then will have…
MEPs will vote later today on proposals to set minimum energy standards for buildings across the EU. Among the changes, the heating and cooling of new buildings will have to result in zero emissions from 2028 onwards. The energy rating of existing residential buildings will have to meet a minimum E rating by 2030 and…
Nearly 27,000 new housing units will be delivered this year, new figures from Banking and Payments Federation Ireland (BPFI) suggest. The latest BPFI housing market monitor shows that housing supply recovered significantly last year after lower-than-expected output in 2020 and 2021 due to the pandemic. Almost 30,000 new homes were completed last year, up 45%…
Hotel rooms in Dublin city are almost completely sold out ahead of St Patrick’s Day, with rooms also in demand for the Six Nations championship and Mother’s Day the same weekend. The Irish Hotel’s Federation (IHF) said there is only approximately 1% availability left, while room prices in the capital have jumped by 18% over…
The banking sector has been no stranger to dramatic developments in recent years. Indeed, the past 15 months have not been without their fair share of twists, which were reflected in the annual results of the main banks which were published over the last few weeks. As 2022 kicked off, the industry was still grappling…
There has been a fall in the number of companies implementing or trialling a four-day working week, according to a new survey. The study by recruitment company Hays Ireland shows that the number of workplaces that have either implemented or are trialling a four-day working week has dropped from 6% in 2022 to 3.5% in…
New figures from the Central Statistics Office show that households’ saving remained high during the last three months of 2022. The CSO said the Households Saving Rate stood at 20% in the fourth quarter of 2022 as people continued the higher rate of saving begun during the Covid pandemic. Before adjusting for seasonality or inflation,…
Consumers have been warned of a serious rise in highly convincing investment scams that are being carried out by fraudsters. The scams are particularly targeted at those over the age of 55, with a minimum investment of €20,000 or more. The FraudSMART awareness initiative from the Banking and Payments Federation Ireland (BPFI) says the scams…