News

The Minister for Finance has confirmed that the Government does not plan to make any changes to income tax, USC or PRSI in October’s Budget.  Paschal Donohoe said it is the view of the Government that it needs to hold the personal tax code steady and use it to respond back to the challenges facing […]

The Bank of Japan kept monetary policy steady today and slightly upgraded its view on the economy, suggesting that no immediate expansion of stimulus was needed to combat the coronavirus pandemic.  Markets are focusing on what Bank of Japan Governor Haruhiko Kuroda will say at his post-meeting briefing on how the central bank could work […]

The Economic and Social Research Institute (ESRI) has found there is limited overlap between the parts of the economy most exposed to Brexit and the parts most exposed to the impact of Covid-19.   In a working paper, the ESRI said that if a no-trade deal Brexit were to occur, more companies overall would be […]

The Central Bank has published an analysis of payment breaks taken by mortgage holders and firms which shows the overwhelming majority of borrowers had no problem servicing their loans prior to the Covid-19 pandemic.   The analysis of payment breaks on mortgages is based on data at the end of May from the five main […]

The UK’s restaurant subsidy scheme to support the hospitality sector through the Covid-19 pandemic helped to push the country’s inflation rate down to its lowest rate in almost five years, official data showed today.  UK consumer prices rose by 0.2% in annual terms in August. This was the smallest increase since December 2015 and a sharp […]

Employers’ group Ibec has called on the Government to provide an additional €6 billion in supports for businesses in the upcoming Budget. In a pre-Budget submission, Ibec said the economy “is not yet ready to carry itself” and that the Irish business model faces its most significant challenge in over half a century. Ibec said the Government could and should […]

The Governor of the Central Bank has said price inflation experienced by households may be higher than what is officially measured. Gabriel Makhlouf also said that Covid-19 has highlighted the impact of globalised supply chains, digitalisation and the “interplay between fiscal and monetary policy”. The Central Bank Governor made his comments during an online speech […]

A presentation by the Department of Finance’s chief economist describes the fall in the economy in the second three months of this year as ‘the largest economic contraction on record.’ It also warns that budgetary policy will have to walk a ‘fine line’ between support and ‘fiscal sustainability.’  Chief Economist John McCarthy’s presentation to the […]

The European Union is set to delay a decision on allowing clearing houses in London to continue clearing euro transactions for EU-based clients due to Britain’s plan to breach part of the Brexit divorce settlement, a derivatives industry source said.  Brussels had said it would grant Britain “time-limited” access to euro derivatives clearing from January […]

Retailers are fearful that weak sterling will help fuel a surge in online shopping at UK websites in the run-up to Christmas – exacerbating the disastrous impact the pandemic has had on their businesses. The value of sterling plunged this week as talks between London and Brussels on a trade deal faltered, making it more […]