Dollar off its lows for now
26.09.2024 Daily blogThe euro reached a fresh 2024 high of around $1.1215 against the dollar yesterday but has since retreated to about $1.1150. It’s the same story with sterling, which has fallen back from yesterday’s best levels of about $1.3420 against the US currency to trade at around $1.3350 this morning. This leaves EURGBP at £0.8350, off […]
Read more-
Weekly Round Up
Weak economic outlook for euro area
Yesterday’s decision by the ECB to cut its deposit rate by a further 25bps to 3.5% came as no surprise to markets. The overnight index swap curve now implies the ECB will cut the deposit rate at least once more in 2024, falling to 3.12% in December and to 1.85% by end-2025. Perhaps more striking […]
-
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 […]
-
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 […]
-
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
-
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 […]
-
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