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Homeowners could pay €400 extra a month if interest rates ‘normalised’

Economy
Eoin Burke-Kennedy
May 17, 2022, 18:50

Head of Bonkers.ie warns of potential impact if ECB raises rates amid soaring inflation

Productivity in the North is much lower than in the Republic and has also fallen relative to other regions in the UK in recent years. Photograph: iStock

Productivity gap between North and South to be examined

Economy
Eoin Burke-Kennedy
May 17, 2022, 18:29

Shared Island unit set up to examine potential for greater alignment North and South

Dublin has been found by CIA Landlord to be the seventh most expensive or least financial viable city of 56 major cities worldwide. Photograph: Dara Mac Donaill

Dublin among ‘least financially viable’ cities to live in, survey finds

Economy
Eoin Burke-Kennedy
May 17, 2022, 17:15

Report pinpoints expensive rents as chief reason for high cost of living in Irish capital

Dublin has been found by CIA Landlord to be the seventh most expensive or least financial viable city of 56 major cities worldwide. Photograph: Dara Mac Donaill

Dutch central bank chief raises prospect of 0.5% ECB rate increase in July

Economy
May 17, 2022, 13:39

Comments made by Klaas Knot send ripples through markets

Will the Government come under pressure to check goods as they cross the Border or leave the island of Ireland for continental ports? Photograph: iStock

Threat looms for North’s free access to EU single market

Economy
May 17, 2022, 05:22

Cantillon: EU leaders have reason to be sick of Brexit and Johnson government antics

The US was the main non-EU destination accounting for €7.4bn (37%) of total exports

Exports exceed €20bn for first time in March

Economy
Colin Gleeson
May 16, 2022, 13:25

Growth driven by increases in exports of medical and pharmaceutical products

The US was the main non-EU destination accounting for €7.4bn (37%) of total exports

Property prices defy cost-of-living squeeze to rise 15.2%

Economy
Dominic Coyle
May 16, 2022, 11:20

Prices rising much faster outside of Dublin but new homes just 6.2% up on last year

EU Commission has hiked its Irish inflation forecasts as it lowered its growth outlook for EU, saying Russia’s invasion of Ukraine ‘posed new challenges’. Photograph: iStock

EU hikes Irish inflation forecasts as it lowers European growth outlook

Economy
Joe Brennan
May 16, 2022, 16:36

European growth would flatline this year in event of outright cut in Russian gas, EU says

A Covid-19 test centre on Beijing. China’s economic activity contracted sharply in April as a wave of lockdowns across the country posed the most significant challenge to its growth prospects since Covid-19 emerged more than two years ago. Photograph: Mark R Cristino/EPA

China’s economic activity plummets as Covid lockdowns hit growth

Economy
Thomas Hale and Jennifer Creery
May 16, 2022, 11:07

Consumer and industrial output plunge as country counts cost of Xi Jinping’s coronavirus strategy

A Covid-19 test centre on Beijing. China’s economic activity contracted sharply in April as a wave of lockdowns across the country posed the most significant challenge to its growth prospects since Covid-19 emerged more than two years ago. Photograph: Mark R Cristino/EPA

Danny McCoy: Inflationary pressures but bedrock of economy strong

Economy
Danny McCoy
May 16, 2022, 06:09

Most Ibec members planning pay increases this year – with median hike of almost 3%

Most of the current development in Dublin is being financed by international funds chasing returns in the build-to-rent sector. Photograph: Simon Dawson/Bloomberg

Covid-induced surge in Irish house prices has reached tipping point

Economy
Eoin Burke-Kennedy
May 15, 2022, 12:38

Get ready for a drop in prices as interest rates rise and housebuilding finally takes off

‘There would be huge financial risks for private companies in buying and storing gas this summer . . . Individual governments or the EU itself would be better able to carry the risk, so they should undertake any advance gas storage.’ Photograph: Koen Van Weel/ANP/AFP via Getty Images

4:46 No easy answers to threat of European gas shortage

Economy
John FitzGerald
May 13, 2022, 05:15

It might be in our interests to rent gas storage in Germany to hedge against price rises

‘There would be huge financial risks for private companies in buying and storing gas this summer . . . Individual governments or the EU itself would be better able to carry the risk, so they should undertake any advance gas storage.’ Photograph: Koen Van Weel/ANP/AFP via Getty Images

Powell confirmed by Senate for second term as Fed chair

Economy
Colby Smith
May 12, 2022, 21:05

Incumbent had been renominated by Biden late last year

In Dublin, the average rent of €2,102 per month outstripped the annualised national minimum wage by almost €4,000, according to Daft.ie. Photograph: iStock

Small firms could come under pressure from soaring rents – Isme

Economy
Ciara O'Brien
May 12, 2022, 17:57

Business group says many employers cannot afford to increase wages to cover higher costs

Central Bank governor Gabriel Makhlouf: ‘We have reached the point where we on ECB’s governing council need to act.’ Photograph: Nick Bradshaw

ECB needs to act on interest rates, Central Bank governor says

Economy
Joe Brennan
May 12, 2022, 12:48

Makhlouf adds voice to growing clamour for July ECB rate hike

Central Bank governor Gabriel Makhlouf: ‘We have reached the point where we on ECB’s governing council need to act.’ Photograph: Nick Bradshaw

NTMA raises €1.25bn in latest bond auction

Economy
Ciara O'Brien
May 12, 2022, 11:55

Agency has raised €5.75bn from benchmark debt sales in 2022

The main drivers of inflation are energy and fuel

Inflation hits 7% in April as Ireland’s cost of living soars

Economy
Eoin Burke-Kennedy
May 12, 2022, 18:00

Households warned to brace for sharpest squeeze since early 1980s

Are there options open to borrowers to protect themselves from rate rises, at least to some extent .

Cliff Taylor: Which mortgage borrowers will be hit first by interest rate hikes hit?

Economy
Cliff Taylor
May 12, 2022, 10:59

Smart Money: There are some options for those with loans to protect themselves

Are there options open to borrowers to protect themselves from rate rises, at least to some extent .

UK economy contracts unexpectedly in March

Economy
May 12, 2022, 09:28

Cost of living squeeze sees consumers cut back on spending

According to Daft, the average monthly rent nationally stood at €1,567 in the first quarter of this year, up 11.7% or €160 on the same period in 2021

3:10 Rate of rent inflation for sitting tenants roughly half that of new tenants

Economy
Ciarán Hancock
May 12, 2022, 05:25

Report shows annual rent inflation rose to five-year high of 11.7% in first quarter of 2022 as supply of properties slumped to new low

According to Daft, the average monthly rent nationally stood at €1,567 in the first quarter of 2022

2:54 Just 851 homes available to rent nationally as price inflation hits five-year high

Economy
Eoin Burke-Kennedy
May 12, 2022, 00:01

Severe shortage of available properties puts upward pressure on rents

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