ECB to lower rates again today
17.04.2025 Daily blogUS equity markets fell yesterday, led by a 3% decline in the Nasdaq, extending their losses after Fed Chair Powell reiterated that the central bank will keep interest rates on hold for now as it assesses the inflationary consequences of Trump’s tariffs. US bonds rallied (yields fell) as stocks sold off, while the dollar lost […]
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Weekly Round Up
Sterling under pressure despite rising gilt yields
Sterling has lagged the euro and other currencies in recent weeks, during the risk-off moves in financial markets as investors have reduced their dollar exposures. This is despite a notable steepening of the UK yield curve, 30-year gilt yields now at 5.35%, their highest level since the late-1990s. This shows UK assets have failed to […]
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Global Watch
Global Watch January 2025
The Fed and ECB both lowered interest rates by 100bps over the second half of 2024 to 3.0% and 4.25%-4.5% respectively. However, while increased concern about the Euro area growth outlook means the ECB seems set to cut the deposit rate by another 100bps this year, the continuing resilience of the US economy as well […]
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Ireland Outlook
Ireland Outlook – January 2025
Irish GDP to expand 4% in 2025 We have revised up our projections for the growth of Irish GDP (4.3%), modified domestic demand (4%) and employment (2.2%) in 2025. This reflects data for H2 2024 indicating the economy had stronger momentum than we anticipated. Also, distortions from ‘contract manufacturing’ have dissipated so GDP should rise […]
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Ireland Infographic
Ireland Infographic – January 2025
We expect GDP will expand by 4.3% in 2025 and by 3.9% in 2026. Download the Ireland Infographic here: Bank of Ireland Ireland Infographic January 2025
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UK Outlook
UK Outlook – January 2025
Growth stalls despite fiscal loosening We have revised down our GDP forecast for 2024 to 0.8%, from 1.1% previously, on foot of weaker activity over recent months. With the outlook for H1 this year looking softer we have also reduced our 2025 forecast, from 1.4% to 1.2%. We expect a rebound in H2 and our […]
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UK Infographic
UK Infographic – January 2025
We expect UK GDP will increase by 0.8% in 2024, rising to 1.2% growth this year and 1.6% in 2026. Download the UK Infographic here: Bank of Ireland UK Infographic January 2025