Archive for April 2021

Rates on Irish mortgages remain the second highest in the euro area, according to the latest figures from the Central Bank.  In February, the average rate on new mortgage agreements was 2.79%. This compares to the euro area average of 1.27%.  This rate was unchanged compared to the previous month but was 0.12% lower than…

The public finances recorded a deficit of €4.172 billion in March, according to figures published this afternoon by the Department of Finance. This compares to a deficit of €2.535 billion recorded in March 2020. The increase in the deficit is driven by higher current spending in response to the pandemic. The Department of Finance said…

Around a fifth of loans to small and medium enterprises, to which pandemic payment breaks were applied, need further support or are entering arrears. This is according to the Central Bank in its latest SME Market Report. Just under half of loans to which payment breaks were applied have returned to full payment on extended terms…

The European Commission has approved a €60 million scheme to support small and medium-sized Irish businesses impacted by the Covid-19 pandemic. The ‘Small Business Assistance Scheme for Covid’, will be open to companies in all sectors, except financial institutions and companies operating in the primary production of agricultural products, fisheries or aquaculture sectors. In order…

Over 70% of people don’t talk about their finances at all or will only do so if they have to, according to research by Bank of Ireland. The survey of 1,000 people asked people to rank their level of comfort or discomfort when discussing a series of issues. It found that finance is on a…

From the United States to Israel, from Australia to Ireland – most agree that a rapid rollout of the Covid-19 vaccination is the key to reopening the economy. But already, employers, unions and lawyers are grappling with thorny issues around vaccination – including what happens when an employee does not want to get vaccinated. Publican…

The National Youth Council of Ireland has described as “eye-watering” the high level of unemployment among young people and warned of a social and economic crisis if they are not able to get a foot on the jobs ladder. Speaking on RTÉ’s This Week programme, James Doorley, Deputy director of the National Youth Council, said six…

The total cost of direct Covid-19 related spending to the state across 2020 and 2021 is estimated to reach €28 billion by the end of this year, the Minister for Public Expenditure and Reform has said.  Addressing the Institute of International and European Affairs this morning, Michael McGrath also said the deficit for this year is…

Irish consumers lost over €12 million through debit and credit card scams in the first half of last year, according to new figures published by the Banking & Payments Federation Ireland (BPFI). The data shows that online card fraud was up 21% in the first six months of 2020, reflecting the boost in online shopping…

The Central Bank has revised upwards its forecast for economic growth in the economy this year in its latest quarterly bulletin.  It says longer pandemic restrictions have slowed the domestic economy but this will be offset by greater demand for exports.  It predicts that when measured by gross domestic product, the economy will grow by…