Euro edges higher
26.07.2024 Daily blogThe euro has edged higher against the dollar, despite yesterday’s stronger than expected GDP data in the US, trading at around $1.0850 this morning, and is also firmer against sterling at 84.4p, with the pound slipping a little further against the dollar to about $1.2860. Meanwhile, US inflation data due later will be the focus […]
Read more-
Weekly Round Up
An uncertain outlook for Irish housing completions
The outlook for Irish housing completions is now especially uncertain. Yesterday’s CSO data showed 6,884 completions in Q2 2024, down 5% on the year, a disappointing out-turn. This suggests the early timing of Easter did hurt Q1’s especially weak figures, but the disruption to housing starts in 2022 from elevated energy costs, build cost inflation […]
-
Global Watch
Global Watch May 2024
The general expectation at the start of 2024 was that the Fed would be in the early stages of easing monetary policy by this stage of the year. However relatively large monthly increases in US consumer prices over the January-March period has dented the Fed’s confidence that inflation is on a path back to 2%, […]
-
Ireland Outlook
Ireland Outlook – July 2024
We have revised down our forecasts for Irish GDP growth to 1.0% in 2024 (from 1.5% in our February Outlook) and to 3.9% in 2025 (from 4.0%). This downward revision reflects the multinational sector, where output continued to contract in early 2024 due to measurement distortions related to ‘contract manufacturing’. In contrast, indicators suggests the […]
-
Ireland Infographic
Ireland Infographic – July 2024
Irish economy to grow at healthy pace in 2024 Download the Ireland infographic here: Bank of Ireland Ireland Infographic July 2024
-
UK Outlook
UK Outlook June 2024
We have revised up our forecasts for GDP growth to 0.8% in 2024 (from 0.4% in our February Outlook) and to 1.4% in 2025 (from 1.2% previously), slightly above consensus expectations and Bank of England forecasts. We expect growth to accelerate further to 1.6% in 2026. The unemployment rate is likely to continue edging higher […]
-
UK Infographic
UK Infographic – June 2024
GDP forecast to grow by 0.8% this year and by 1.4% in 2025 Download the UK infographic here: Bank of Ireland UK Infographic June 2024