Author: Patrick Mullane

UK housing market still in a fragile place

Tuesday’s Nationwide index showed UK house prices broadly flat in August, up just 1.6% yoy, and follows downbeat readings from Lloyds (+0.1%) and Rightmove (-1%) that point to flat or negative inflation. The most recent Royal Institution of Chartered Surveyors (RICS) survey indicated a net majority of UK estate agents reported falling prices (-30%) in […]

Dollar gains after hawkish Warsh speech

Friday was very much dominated by Fed Chair Warsh’s much anticipated speech in Jackson Hole. That conference had often been used by previous Fed chairs for major policy speeches but there was a risk Warsh would say very little given his predisposition to less rather than more communication about monetary policy. In the event he […]

Ireland’s population grew by 1.2% in year to April 2026

New CSO data showed that Ireland’s population grew by 1.2% (67,000 people) in the year to April 2026, reaching 5.5 million. Although this remains one of the fastest rates of population growth in Europe, the 1.2% increase was the slowest recorded in Ireland since 2016, excluding the Covid-19-affected year of 2021. This reflects declining birth […]

LFS may overstate Irish employment growth slowdown

This morning’s CSO Labour Force Survey data (LFS), showed that employment growth returned in Q2, following an unexpected quarterly fall in Q1, with employment up nearly 20,000 (+0.7%), from Q1. Annual employment growth was quite soft, rising by just 0.8%, with falls in annual employment in five of the fourteen sectors. However, there may still […]

Electric car sales rising but still behind longer term targets

This morning’s CSO data showed that new electric car (EV) sales in July were 7,216, up 82% when compared to July 2025. For the January to July period, sales of EVs were up 57% over the same period last year. The rise in fuel prices and continued Government incentives such as the ICE2EV scrappage scheme, […]

Hopes for Iran peace sends oil prices lower

With the US and Iran holding back on further military strikes, there was a relief rally, sending oil prices and bond yields lower. In FX markets, the euro initially rallied, getting back to above $1.14, but failed to hold onto those gains, with the single currency slipping back over the course of the day to […]

Euro lost ground last week

The euro lost out against the dollar last week despite the ECB’s hawkish hold on Thursday, where they warned of upside risks to inflation and the market pricing in a 90% chance of a 25bps hike at their next meeting. That wasn’t enough to offset the impact of continued safe-haven demand for the dollar amid […]

UK Infographic – July 2026

We expect that UK GDP will grow by 0.9% in 2026 and 1.1% in 2027. Download the UK Infographic in Full Here: Bank of Ireland UK Infographic July 2026

UK Outlook – July 2026

New Prime Minister, Similar Outlook We have kept our outlook unchanged for the most part, with a few slight tweaks. The economy continues to face a number of headwinds, including ongoing geopolitical tensions and high/volatile global energy prices. We expect below trend GDP growth of 0.9% this year and 1.1% next year (both upgraded by […]

Ireland Infographic – July 2026

We expect GDP will contract by 3.0% in 2026 before rebounding by 3.6% in 2027. We expect the domestic economy to expand in both years, with modified domestic demand increasing by 3.5% this year and 2.5% next year. View the Ireland Infographic Here: Bank of Ireland Ireland Infographic July 2026