Pound lower after BoE rate decision
20.12.2024 Daily blogIf the Fed’s interest rate decision on Wednesday was a ‘hawkish’ cut, sending the dollar higher, yesterday’s Bank of England MPC interest rate decision was a ‘dovish’ hold, sending sterling lower against the US currency and causing it to reverse course against the euro. The MPC voted 6-3 to keep rates at 4.75%, with the three […]
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Weekly Round Up
How long can Ireland’s rapid population growth continue?
In our final ‘Economics Weekly’ publication before Christmas we focus on the most pressing issue facing the Irish economy – whether the recent exceptional pace of job creation and population growth can be sustained in the face of growing bottlenecks and capacity pressures. The Irish population grew by 1.9% for a second successive year, or […]
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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