Archive for March 2025

Euro zone banks need to get into the habit of tapping the European Central Banks for cash, preparing for the continued decline in excess liquidity in the banking system, two top ECB officials said in a blog post today. Banks still sit on almost €3 trillion of excess liquidity, created by the ECB over the…

New figures from the Central Statistics Office shows that inflation eased to an annual rate of 1.8% in February from a rate of 1.9% in January. Today’s figures show that prices in restaurants and hotels rose by 3.1% mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants and cafes,…

A new report by Microsoft and Trinity College Dublin is projecting that the adoption of artificial intelligence (AI) could add €250 billion to Ireland’s economy, as measured by GDP, within 10 years. The AI Economy in Ireland 2025 report found that AI adoption is expected to increase Ireland’s Gross National Income (GNI) by at least…

The latest AIB Spend Trend report shows that Storm Éowyn led to an exceptionally quiet day for spending on Friday 24 January. AIB said the number of in-store transactions was down 38% compared with an average day. But after the storm, spending in hardware stores was up 8% in February, with significant increases seen in…

New figures from the Central Bank show that the average interest rate on new Irish mortgages rose to 3.82% in January from 3.8% in December despite recent rate cuts from the European Central Bank. The Central Bank said that Ireland has the fifth highest average mortgage rates in the euro zone as the euro average…

New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023. The data from the Central Statistics Office shows approvals for houses was down 2.7% last year. The total number of new homes approved annually fell by 21.4% in 2024 compared…

The European Union will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month, the European Commission said, ramping up a global trade war in response to blanket US tariffs on steel and aluminium. US President Donald Trump’s increased tariffs of 25% on all steel and aluminium imports have taken effect…

Almost three-quarters of Ireland’s working population would like to retire by age 60 or sooner, according to new research. The latest Retirement Aspirations survey commissioned by pension company Royal London Ireland, shows that four in ten respondents would like to retire by the age of 50 or even sooner if they could. 7% of those…

Employment fell in the construction sector last month, ending a five-month period of jobs growth. The AIB Ireland Construction PMI report in February shows staffing levels were scaled back midway through the opening quarter of the year. It comes at a time when there are significant concerns over housing output, with CSO figures showing there…

Taoiseach Micheál Martin will tell US President Donald Trump that there is a “two-way street” of investment between the US and Ireland, as a trade imbalance between the two countries looms over their upcoming bilateral meeting. Mr Trump will host the Taoiseach in the Oval Office of the White House tomorrow as part of the…