Euro and sterling in retreat
30.08.2024 Daily blogThe euro and sterling have retreated further against the dollar – which perhaps shouldn’t be too surprising given the scale of their recent gains against the US currency – with both shedding in and around half a cent to trade at about $1.1080 and $1.3180 respectively, leaving EURGBP a touch softer at around £0.8410 (which […]
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Weekly Round Up
Earnings continue to rise steadily
Earnings data shows that wages continue to rise but at a relatively modest pace considering the recent period of elevated inflation post pandemic. Hourly earnings rose by 5.4% year-on-year (y-o-y) to €29.71 in Q2. However, as inflation has fallen back considerably now, real incomes are rising steadily, and with inflation set to remain low, there […]
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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%, […]
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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 […]
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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
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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 […]
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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