Euro a touch firmer
31.10.2024 Daily blogStronger than expected Euro area GDP growth and higher than expected inflation in Germany have provided some modest support to the euro, which has firmed to around $1.0860 against the dollar and to about £0.8360 against sterling. The pound has also lost some ground to the dollar, slipping to $1.2980, notwithstanding Chancellor Reeves first budget, […]
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Weekly Round Up
PMIs add to concerns on health of Euro Area economy
This week’s composite PMI at 49.7 in October, served to accentuate fears on the Euro Area’s growth prospects for 2025. In this context, the ECB is expected to revise down its projection for 1.3% GDP growth in 2025 so markets are fully pricing in a further 25bp rate cut at the December 12th policy meeting, […]
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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