Economic Research Unit

The Economic Research Unit (ERU) provides commentary and analysis of economic and market events in Ireland, the UK, the Euro Area and US.

The ERU prepares regular reports on the global, UK and Irish economies. Our latest publications are available for download here.

If you would like to get in touch, you can contact the team on economics@boi.com.

 

Dollar rally proves short lived

30.05.2025 Daily blog

The gains made by the dollar overnight on Wednesday proved short lived as an appeals court upheld President Trump’s tariffs (for now) and weak US data saw the greenback lose out yesterday. The dollar had gained to under $1.1250 overnight on Wednesday after a US trade court ruled most of President Trump’s tariffs were not […]

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  • Weekly Round Up

    Irish unemployment rate falls to fresh low of 4%

    26.05.2025

    Last week’s Labour Force Survey (LFS) showed that Irish employment growth continued at a rapid 3% pace in Q1 2025, with the unemployment rate falling to a fresh 24-year low of 4.0%. The data show that the labour market continues to tighten, evident in pay growth of 5% through 2024. This is despite labour supply […]

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  • Global Watch

    Global Watch May 2025

    12.05.2025

    The new US administration’s trade policy has resulted in heightened uncertainty and declining consumer and business sentiment, while also denting investor confidence in US assets. Increased tariffs will result in lower growth and higher inflation in the US, and will dampen growth in the Euro area and UK economies. The Fed is likely to stay […]

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  • Ireland Outlook

    Ireland Outlook – May 2025

    02.05.2025

    New Ireland Economic Forecasts We have revised down our forecasts for Irish GDP growth to 3.5% in 2025 and 3.7% in 2026. This forecast entails softer, but still robust growth, due to the negative impact of uncertainty on consumer and investment spending. Also, the 10% baseline tariffs that now apply to 2-3% of Irish trade […]

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  • Ireland Infographic

    Ireland Infographic – May 2025

    02.05.2025

    We expect GDP will expand by 3.5% in 2025 and by 3.7% in 2026. Download the Ireland Infographic here: Bank of Ireland Ireland Infographic May 2025

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  • UK Outlook

    UK Outlook – May 2025

    16.05.2025

    Outlook deteriorates amid tariff uncertainty Since our last projections in January the global outlook has unfortunately deteriorated, due in the main to the trade policies of the Trump administration. With uncertainty high we have decided to reduce our 2025 and 2026 growth forecasts by 0.2% and 0.3% respectively, to 1.0% and 1.3%. Unemployment, which has […]

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  • UK Infographic

    UK Infographic – May 2025

    16.05.2025

    We expect UK GDP will increase by 1.0% in 2025 and 1.3% in 2026. Download the UK Infographic in full here: Bank of Ireland UK Infographic May 2025

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Meet the team

Conall Mac Coille, Group Chief Economist
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Michael Crowley, Senior Economist
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Patrick Mullane, Senior Economist
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Conn Creedon, Senior Economist
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Diane Woods, Economist/Operations Manager
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