Dollar takes back a little ground this morning
29.09.2024 Daily blogDollar weakness continued to outweigh weak European data to push EURUSD to year-to-date highs around $1.12 on Friday afternoon, however we open this morning back below this level at $1.1160 ahead of key data releases in both the Euro Area and the US this week. EURGBP reached a year-to-date low of £0.8325 late last week, […]
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Weekly Round Up
Irish economy beginning to feel competitiveness pressures
This week we published new Irish economic forecasts; downgrading projections for both GDP(-1%) and modified domestic demand (2.3%) growth in 2024, but mainly on the back of statistical distortions and volatile data. The bigger picture is that Ireland’s exceptional pace of employment (2.7%) and population (1.9%) growth has continued in H1 2024, ahead of our […]
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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