Economic
US Treasuries rally as Fed’s hawkish language dialled down
US Treasury markets rallied yesterday (March 22nd) after the Fed’s decision to raise rates by 25bps. Investors focused on signs in the Fed’s statement that the rate tightening cycle...
Irish residential property prices see first fall in almost three years
The 0.6% fall in Irish residential property prices in January is the first since May 2020. The decline is not unexpected, reflecting usual seasonal trends as well as an underlying slowdown...
Speculation mounts on snap 2023 Irish general election
Irish media reported yesterday (March 14th) that the possibility of calling an early general election, perhaps as soon as November 2023, is now being considered by government insiders....
ECB to signal rate tightening cycle still not over
European markets have stabilised this morning despite heavy losses in Asia as the fallout from the US regional banking crisis continued. US two-year yields traded at 3.99%, down from 5%...
Revisions to Irish GDP could mean euro area contracted in Q4
The consensus view is that today’s euro area GDP release for Q4 2022 will show flat growth, revised down from a marginal 0.1% expansion, principally due to the deeper 0.4% contraction...
Irish residential property prices rise 0.3% in December
The further 0.3% rise in the Residential Property Price Index (RPPI) in December, with annual inflation at 7.8%, shows that house prices continue to be resilient. The lack of housing...
New Irish economic forecasts – GDP to grow 6.9% in 2023
We have revised up our forecast for Irish GDP growth to 6.9% in 2023 and 5% in 2024. First, activity at end-2022 held up better than expected (especially in the multinational sector),...
Irish housing completions grow close to 30,000 in 2022
Housing completions rose close to 30,000 in 2022, showing that activity was stronger than expected, and that there is already sufficient capacity in the sector for a level of output...
UK CPI inflation accelerates to 10.4%
This morning’s Consumer Price Index (CPI) data showing inflation accelerating to 10.4% is disappointing, ahead of expectations for a fall to 9.9%. Forecasts may have been caught out by...
DUP opposition won’t stop EU/UK deal on Northern Ireland
Rishi Sunak still looks set to pass legislation through parliament for his ‘Windsor’ deal with the EU tomorrow, despite opposition from the Democratic Unionist Party (DUP). A major revolt...
Bank of England may hold at 4%
The fallout from the sale of Credit Suisse and the write down of its AT1 bonds looks set to create fresh uncertainty for markets today. In this context, the Bank of England is far...
Jeremy Hunt to unveil small giveaway in March Budget
Given limited room for manoeuvre in tomorrow’s Budget, Jeremy Hunt will likely focus on temporary and limited measures to help companies and households. The energy price guarantee will...
