Accountancy firm EY has revised upwards its economic forecast for this year. EY’s latest Economic Eye report said it expects to see GDP growth of 3.4% for 2020. That is expected to moderate to 2.8% in 2021 and 2.7% in 2022. Professor Neil Gibson, Chief Economist for EY Ireland, said they revised the forecast following […]

Sterling rose today in volatile trade as investors braced for parliamentary votes on Prime Minister Theresa May’s Brexit’s deal that could decide on what terms – if at all – Britain leaves the EU in less than three weeks. No breakthrough emerged from weekend talks between the British government and the EU. As a result, […]

Mortgage holders here pay more for their loans than other borrowers around Europe, partly because of the high level of loss-making trackers still in the banking system. That’s according to a report from the Department of Finance, which looked at the reasons for the disparity between mortgage rates here and elsewhere. “Trackers, which are still […]

Grocery prices rose 1.5pc in the 12 weeks to February 24, and further increases are likely on foot of Brexit, according to market researchers Kantar Worldpanel. Extra customs paperwork plus any tariffs that emerge will make British goods more expensive for Irish importers, Kantar’s consumer insight director Douglas Faughnan said. It was the fourth period […]

What kind of Online Safety Commissioner will the Government actually appoint? A powerful watchdog? A lame duck? Something in between? Communications Minister Richard Bruton talks about an office with the power to fine Facebook, Twitter or YouTube, or even spark a criminal prosecution. But to be effective a new commissioner has to do a few […]

Bank of Ireland is planning to sell up to €800m worth of non-performing loans this year as it moves to bring its balance sheet in line with European norms. The bank had consistently ruled out any loan book sales – until CEO Francesca McDonagh switched her stance last July. At the time she said that […]

The Government is publishing details of a new approach to the future needs of businesses and workers. Called Future Jobs Ireland, the aim is to prepare people and companies for coming technological changes and the move to a low-carbon economy. The Department of Business, Enterprise and Innovation says the policy is needed to ensure there […]

First-time buyers are facing stiff competition from housing associations, investment firms and State bodies when trying to buy homes, a new report says. Known as non-household buyers, they now make up 22pc of purchases for newly built homes, up from 7pc in 2010. The latest housing monitor from the Irish Banking and Payments Federation says […]