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Commenting on the ECB decision to keep its interest rates unchanged, Brokers Ireland said it will come as a relief to worried mortgage holders who have been in trepidation fearing further increases.

Commenting on the recent ECB decision to raise its main refinancing rate by a further 0.25 percent, the ninth increase since July last, bringing it to 4.25 percent, Brokers Ireland said “one would be hopeful while not at all confident, that the strategy will achieve stability rather than fragility and destruction among borrowers – personal and business borrowers.”

Inflation figures released by the Central Statistics Office yesterday reveal that Irish inflation hit a record high. Prices on average, as measured by the Consumer Price Index (CPI), were 5.5 percent higher in December compared with December 2020. This is the largest annual change in prices since June 2001 when annual inflation was 5.3 percent. This increase in Irish inflation is mirrored in the euro area. The Harmonised Index of Consumer Prices (HICP) – the European Central Bank’s (ECB) preferred measurement of inflation - stood at 5 percent in December 2021 according to Eurostat’s flash estimate, which was the highest level recorded since the euro was introduced in 1999.

Programme Director for the Bachelor of Business in Finance and Economics.

Four students from St Gerald’s College, Castlebar, have lined up a meeting with the European Central Bank president Mario Draghi.

The recovery of the spiralling economy will comence inside the next 15 months, it was stated this week, with business leaders relieved that at last a date has been set for the turnaround.