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Fuel prices are falling while everyone’s at home

The price of a litre of fuel has fallen significantly in recent weeks. However, with personal movement restricted to within a two kilometre radius of everyone’s home, the benefit of the price reduction is not being felt by many, other than those who need to carry out essential work. Why are prices falling and how […]

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Energy consumption at home up as much as 20% since Covid-19 restrictions

Energy consumption in family homes is up between 11% and 20% as more people stay at home, according to a study from energy company Pinergy and property group Savills.  The new study highlights the impact that the latest Covid-19 restrictions are having on changing patterns of energy consumption in the home. The study found that […]

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Irish economy well placed to rebound from Covid-19 – Davy

A new report from stockbrokers Davy said that while the outbreak of Covid-19 presents significant challenges, Ireland’s economy should prove to be far more resilient relative to the rest of Europe than it did in the last downturn.  The stockbrokers noted that recent years have been characterised by a lack of credit demand, mainly due to […]

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NTMA sells €750m of Treasury Bills in new auction

The National Treasury Management Agency today completed an auction of Irish Treasury Bills, selling the target amount of €750m.  The NTMA said that total bids received for the Treasury Bills amounted to €2.305 billion which was over three times the amount on offer.  The Treasury Bills, which have a maturity of six months, were sold […]

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Former IMF boss predicts quick economic rebound once Covid-19 crisis is over

Former IMF deputy director general Donal Donovan said he believes it is possible for a “fairly quick rebound” once the coronavirus crisis passes and confidence returns to the Irish economy.  Mr Donavan said that this crisis is quite unlike the situation in 2008/2009, when banks went bust, the construction industry collapsed and there was huge […]

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Banks may extend mortgage breaks to six months – BPFI

The country’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body has said.  The banks agreed the measure in the middle of last month and had granted or were close […]

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Consumer sentiment suffers largest ever monthly drop

Consumer sentiment suffered its largest monthly drop on record in April, a survey showed today, demonstrating the scale and speed of the economic collapse unleashed by the coronavirus pandemic.  Restaurants, bars and non-essential retail outlets have been closed in stay-at-home restrictions put in place on March 29.  These restrictions are due to run until at […]

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IMF: Irish economy set to return to growth next year

The International Monetary Fund is forecasting that Ireland’s economy will decline by 6.8% in Gross Domestic Product (GDP) terms this year, as a result of the impact of the Covid-19 pandemic. The figure is contained in the IMF’s World Economic Outlook, published today. The IMF believes that unemployment in Ireland will average 12.1% this year and 7.9% in 2021. […]

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Measures announced to ensure delivery of capital projects

The government has announced measures to ensure the delivery of Exchequer-funded capital projects under Project Ireland 2040. The public health measures, introduced at the end of March to halt the progress of Covid-19, imposed restrictions on many areas of the economy including the construction sector.  In a statement this evening, Minister for Finance Paschal Donohoe, […]

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Over half a million receive Covid Unemployment Support Payments

533,000 people have today been issued payments of the Covid-19 Pandemic Unemployment Support payment – up 26,000 on the figure a week ago, according to the Department of Employment Affairs and Social Protection. Around 54,000 of those are receiving payments for the first time.  These Covid Pandemic payments first introduced on 16 March are in […]

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