The economy is set to grow more strongly this year than had been expected and may even overheat, according to the latest quarterly bulletin from the Economic and Social Research Institute. It expects the domestic economy to grow by 3.8% this year while inflation will moderate to 4.5%. Record levels of employment could stretch the…
More than 60,000 homes could be built on State-owned land, according to a report going to Cabinet this morning. The Report on Public Land identifies 83 State-owned sites with the potential for up to 67,000 homes in the medium to long-term. The work compiled by the Land Development Agency indicates that land in the cities…
Minister for Finance Michael McGrath will today seek Cabinet approval for Ireland to apply to become the base for the new EU Anti-Money Laundering Authority (AMLA). The AMLA, set to be established in 2024, will be a major EU institution tasked with overseeing compliance with anti-money laundering and countering financing of terrorism rules and standards….
The total value of Irish pensions fell by almost 16% last year, according to new figures. Rising interest rates and the geo-political uncertainty caused by the war in Ukraine wiped significant value off pension funds around the globe. At the end of 2022 Irish pension assets were worth around €157 billion, having increased by an…
Mild weather February saw the country’s overall gas demand fall by 11% compared to January, and decrease by 25% in the residential sector month on month. Demand for gas increased by 7% in February compared to the same month last year, new figures from Gas Network Ireland shows today. Gas was the main source of…
The interest rates on a range of medium to long-term State savings products are to increase, on foot of several hikes of European Central Bank interest rates since last July. New issues of State Savings Fixed Rate, Savings Certificates, Instalment Savings and 10 Year National Solidarity Bond products are to take place. Shorter term products…
The Government supported almost 27,200 home energy upgrades or retrofits last year through the Sustainable Energy Authority of Ireland. The SEAI says this is an 80% increase on 2021. The National Retrofit Plan has set a target of 500,000 homes upgraded to a B2 energy rating by 2030. Cutting emissions from heating homes is key…
EU leaders meeting for the second day of a summit in Brussels will be briefed by the European Central Bank about the risks of contagion in the banking sector. It follows the collapse of Silicon Valley Bank in the US and the subsequent takeover of Credit Suisse by UBS. ECB President Christine Lagarde will update…
A decline in switching activity following a busy period that saw many borrowers lock in fixed rates, contributed to a fall in new mortgage lending last month according to new data. Mortgage approvals fell by 13.3% in February when compared to the same month last year, the information from the Banking and Payments Federation Ireland…
The latest monthly Credit Union Consumer Sentiment Survey has found that 35% of consumers said they are struggling to cope with the impact of inflation on their household finances. Over 55% of respondents said inflation has caused a worsening in their financial circumstances, but they are managing to cope and just 7% said they were…