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The European Parliament has given the final nod to far-reaching rules on artificial intelligence that the EU hopes will both harness innovation and defend against harms. The law, known as the “AI Act”, was first proposed in April 2021 by the European Commission, the EU’s executive arm. But it was only after Microsoft-funded ChatGPT burst […]

The average interest rate on new mortgages in Ireland rose in January, according to new data from the Central Bank. At the end of the month, the average rate was 4.27%, up 0.08% from a month earlier. It means rates on new mortgages in Ireland are now the seventh most expensive in the euro area, […]

The Central Bank has revised downwards slightly its forecasts for growth in the domestic economy this year, but still expects that it will continue to grow at a moderate pace over the next three years. The bank is now predicting that Modified Domestic Demand (MDD) will expand by 2.2% this year, down from its forecast […]

92% of Irish employees have a strong preference for continuing in a hybrid or remote work model, according to new research from recruitment company Morgan McKinley. The Global Workplace Guide shows that half of employees would forgo a pay raise if it meant they got their desired flexibility. One to two days in the office […]

The first ever rules for artificial intelligence for the European Union are expected to be approved by MEPs in Strasbourg. The proposed law, which is likely to have widespread support in the European Parliament, will require AI models such as ChatGPT and general-purpose AI systems to comply with transparency obligations before they are put on […]

New figures from the Central Statistics Office show that the rate of household saving fell slightly in the last three months of 2023 and in the year as a whole as inflation continued to drive consumption during the year. Today’s figures show that the Household Saving Rate eased to 10.19% in the fourth quarter of […]

The Central Bank told the Department of Finance a scheme for mortgage interest relief would almost exclusively benefit homeowners aged over 40 who were the least likely to have challenges paying back their home loan. In an analysis of Government plans to help mortgage holders in last year’s budget, the Central Bank said the scheme […]

The Central Bank has revised downwards slightly its forecasts for growth in the domestic economy this year, but still expects that it will continue to grow at a moderate pace over the next three years. The bank is now predicting that Modified Domestic Demand (MDD) will expand by 2.2% this year, down from its forecast […]

The European Central Bank is increasingly confident that inflation is coming down, but should still hold off on an interest rate cut until June, Slovak Governing Council member Peter Kazimir said today. The ECB held rates unchanged at a record high last week, but its chief Christine Lagarde said discussions over easing policy have begun […]

One in every five car owners are planning to get rid of their car over the coming years, new research has found. The rising cost of running a car is among the big drivers, the survey discovered, with almost two thirds citing this as an influence on their decision. However, just over three quarters said […]