Day: July 22, 2022

Jul 22
Higher real income growth, reduced spending and precautionary savings contributed to significant increase in Irish household deposits during the pandemic

Central Bank Economic Letter finds that, while household deposits increased across all euro-area countries during the pandemic, Irish deposit growth was among the highest, exceeded only by Baltic countries. Unlike Ireland, these countries had very high pre-pandemic deposit growth, marking the Irish experience as exceptional. While the virus and related restrictions reduced spending, a higher […]

Jul 22
Challenges and opportunities for a financial services ecosystem in transition – Makhlouf

Governor of the Central Bank of Ireland Gabriel Makhlouf spoke this afternoon about current trends in the Irish, German and Eurozone economies, as well as opportunities and challenges in the financial system at an event hosted by the Consulate General of Ireland and IHK Frankfurt, in partnership with Verband der Auslandsbanken in Frankfurt, Europa Union […]

Jul 22
Remarks by Governor Gabriel Makhlouf at Consulate General of Ireland and IHK Frankfurt event

It is a pleasure to address you today. I would particularly like to thank our Consul General Anne-Marie Flynn for organising this event.1 German – Irish economic relationship Ireland and Germany have excellent relations, politically, culturally and economically. These relations have been documented as far back as the 7th century.   When reading about the relationship, […]

Jul 22
Transcript of Governor Gabriel Makhlouf’s interview with Niall Brady, The Sunday Times

Interview with Governor Makhlouf conducted 16 June 2022 Niall Brady: Okay, well listen thanks again for taking the time to talk to me.  You had a very busy week, from what I see yesterday was a busy day for you.  Gabriel Makhlouf: I’ve had a busy fortnight.  Niall Brady: Really?  Why a busy fortnight Gabriel […]

Jul 22
Central Bank Governor visits Tipperary to meet businesses and students

Governor of the Central Bank of Ireland Gabriel Makhlouf met with businesses and students from Tipperary yesterday during his day-long visit.  Governor Makhlouf met with local entrepreneurs, staff and Government agencies at Tipperary Technology Park, where conversations included the importance of local digital hubs and local economic development in a hybrid working world recovering from […]

Jul 22
Recurrent property taxes may help to reduce house price volatility

Central Bank Economic Letter finds that recurrent property taxes can, over time, help to mitigate downside risks to house prices. Such taxes may also provide a stable source of revenue for government, as they are less likely to be affected by the economic cycle. Revenue from recurrent property taxes, as a proportion of national income, […]

Jul 22
Central Bank highlights weaknesses in Virtual Asset Service Providers’ AML/CFT Frameworks

Central Bank seeks to anticipate and support innovation in the financial services industry Firms in novel areas must ensure their businesses will not be used to launder the proceeds of crime or to finance terrorism Central Bank issues a bulletin to virtual asset service providers (VASPs) to assist them in strengthening their applications and frameworks […]

Jul 22
T-Mobile agrees to pay $350 million to settle 2021 data-breach class action

T-Mobile US Inc. TMUS, -0.53% reached an agreement to settle a class-action lawsuit regarding a 2021 cyberattack that breached some customer data, the company disclosed in a late-Friday filing. The wireless giant agreed to pay $350 million to handle claims made by class members and cover other related fees. The proposed settlement is still subject […]

Jul 22
ECB Fails to Surprise the Euro with a Hawkish Turn as Growth Risks are in Focus

The EURUSD bounce on the surprising 50 bp rate hike from the ECB proved to be short-lived indicating that investors probably prefer to focus on fundamentals, other than the rate differential with the Fed. The pair erased gains made after the ECB meeting and moved lower on Friday, finding some support at 1.015 level. Judging […]

Jul 22
E-mini Natural Gas Futures ( QG1! ), H4 Potential for Bullish Rise

Type: Bullish Bounce Key Levels:Resistance: 9.060Pivot: 8.125Support: 7.195 Preferred Case:On the H4, with prices moving above the ichimoku cloud and in an ascending trend channel, we have a bullish bias that price will rise from the pivot at 8.125 in line with the pullback support, 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st […]