Euro takes back a little ground
21.10.2024 Daily blogThe ECB decision to cut interest rates on Thursday saw the euro lose some ground immediately post the meeting, down to around $1.0820 to the dollar but the single currency rebounded somewhat on Friday and is back to around $1.0850 currently, still some way off the $1.09 level it traded at at the beginning of […]
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Weekly Round Up
Evidence UK inflation pressures easing hits sterling
Markets had expected the Bank of England to lag behind other central banks in cutting rates through to the end of 2025, mainly due to evidence of persistent inflationary pressures. However, this week saw both UK private sector regular pay growth (4.5%) and CPI inflation(1.7%) ease. Hence, investors now expect the Bank of England to […]
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Global Watch
Global Watch September 2024
Inflation is in retreat in the main economies, with headline rates close to target, and central banks have begun to lower interest rates following the sharp tightening of monetary policy in 2022-2023. The ECB and Bank of England are among a number of central banks to have cut policy rates, while the Fed is certain […]
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Ireland Outlook
Ireland Outlook – September 2024
New Irish Economic Forecasts Once again, erratic and volatile national accounts data for Q2 2024, have led us to revise down our forecasts for the growth of both GDP (-1%) and modified domestic demand (2.3%), but tell us little on the health of the economy. In contrast, the recent rapid pace of job creation means […]
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Ireland Infographic
Ireland Infographic – September 2024
We expect GDP will contract by 1% in 2024, rebounding to 3.5% growth in 2025 and 4% in 2026. Download the Ireland Infographic here: Bank of Ireland Ireland Infographic September 2024
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UK Outlook
UK Outlook – September 2024
Improved short term outlook, longer term challenges remain We have revised up our GDP forecast for this year to 1.1%, from 0.7% previously, on foot of the robust rebound in activity in the first half of the year. Our forecasts for 2025 and 2026 are unchanged at 1.4% and 1.6%, broadly in line with the […]
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UK Infographic
UK Infographic – September 2024
We expect UK GDP will increase by 1.1% in 2024, rising to 1.4% growth in 2025 and 1.6% in 2026. Download the UK Infographic here: Bank of Ireland UK Infographic September 2024