Euro remains on the front foot
07.03.2025 Daily blogThe ECB cut the deposit rate by 25bps to 2.5% at yesterday’s meeting, as expected, and said it is now at a ‘meaningfully less restrictive’ level, pointing to the possibility of a slower pace of rate cuts ahead. The euro traded up to an intra-day high of just over $1.0850 following the meeting, which is […]
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Weekly Round Up
Irish GDP expanded by 1.2% in 2024
Data released by the CSO yesterday revised up GDP growth in the Irish economy last year to 1.2% (from a preliminary estimate of 0.3%). The data showed the domestic economy grew solidly last year, with modified domestic demand up 2.7%, while volatility in the MNC sector, largely caused by changes in contract manufacturing and intangibles […]
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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