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Business sentiment fell sharply in October – survey

Business sentiment fell to a near-two year low in October, according to Bank of Ireland’s latest economic pulse survey. The business reading stood at 64.2 in the month, down 13.6 points on September. It came as a result of weakening sentiment in the services, retail and industry sectors, as demand softened and uncertainty increased. However […]

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Average mortgage in Q3 surpassed peak of market in Q1 2008

The average mortgage stood at €284,623 in the third quarter of the year, surpassing levels seen during the peak of the market in 2008 when it was €268,220. “This comes on the back of strong house prices inflation and the continuing challenge of supply in the housing market,” said Brian Hayes, Chief Executive, Banking & […]

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Banks to write to tracker customers following ECB rate hike

The main retail banks have said they will be writing to their tracker mortgage customers to inform them of their new interest rates, following today’s rate hike by the European Central Bank. This afternoon the ECB raised rates by a further 0.75% in its third hike this year. This means mortgage repayments for those on […]

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Euro falls against the dollar after ECB rate hike

The euro briefly fell back below parity with the dollar today after the European Central Bank (ECB) raised interest rates, and US data showed that the world’s biggest economy rebounded more than expected in the third quarter. The ECB raised its deposit rate by 0.75% to 1.5%, the highest since 2009, in an effort to […]

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Average rents rose 84% in nine years – ESRI study

The cost of average private rents jumped 84% in the nine years to last year, new research from the Economic and Social Research Institute has found. The study found from 2012 to 2021, average rent rose from €589 to €1,084 per month. The analysis concluded that this has led to a substantial decrease in housing […]

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Interest rates set to rise again – what does it mean?

The European Central Bank is on course to raise interest rates again today. We’ve been looking at why the bank has been raising rates and how far they’re likely to go today – and in the months ahead – and what that will mean for Irish borrowers. Why are interest rates rising? In a word, […]

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Housing starts down 31% in September

The number of residential units which have commenced construction fell last month, according to the latest figures from the Department of Housing. In September, the Department received commencement notices for 2,211 units, down 31% on the 3,203 commencements notified the same month last year. 605 units were started in Dublin local authority areas and 1,219 […]

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ECB expected to increase interest rates by further 0.75%

The European Central Bank’s (ECB) governing council meets today in Frankfurt amid speculation it will announce another 0.75% increase in interest rates. The ECB has already increased rates twice this year, a half a percentage point in July and three quarters of a percentage point in September. Market analysts widely expect rates to be increased […]

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Applications open for Sport to Start-Up programme

Applications open today for the fourth round of the Sport to Start-Up programme. The online course aims to help full time Irish sports people start their own business while still competing or training. It is an initiative of the Local Enterprise Offices, and is funded by the Department of Enterprise, Trade and Employment through Enterprise […]

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Goods handled by main Irish ports up 1% in Q2

New figures from the Central Statistics Office show that Irish ports handled a total of 13.1 million tonnes of goods in the second quarter of 2022, an increase of 1% compared with the same time last year. A total of 3,085 vessels arrived in the seven main Irish ports – Bantry, Cork, Drogheda, Dublin, Rosslare, […]

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