Day: July 26, 2022

Jul 26
Fiscal policy and planning for resilience

At last week’s meeting of the ECB’s Governing Council, we decided to increase our main policy rate by 50 basis points.  This continues the normalisation of our monetary policy, a path that we had started to travel on last December. Our aim is to dampen the inflationary pressures that we’re seeing in the euro area […]

Jul 26
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 26
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 26
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 26
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 26
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 26
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 26
Bitcoin price falls under $21K, bringing more capitulation or just consolidation?

On July 26, Bitcoin (BTC) price dropped below $21,000, giving back the majority of the gains accrued in the previous week and returning to the $23,300 to $18,500 range that Glassnode analysts describe as “the Week 30 high and Week 30 low.”  A handful of analysts and traders attribute the July 26 to July 27 […]

Jul 26
Williams Sonoma brand president resigns

Williams-Sonoma Inc. WSM, -2.03% said late Tuesday that Ryan Ross, president of its flagship Williams Sonoma brand, is resigning effective immediately “to assume a leadership role outside of the company.” The retailer said Chief Marketing Officer Felix Carbullido will become the president of the Williams Sonoma brand. Shares of Williams-Sonoma fell 2.2% in the extended […]

Jul 26
Despite Dollar Correction the Risk of the EURUSD Retesting Parity is High

The Fed week is unlikely to be as turbulent as the last week which featured the ECB meeting as the risk of surprising policy decisions at Wednesday meeting appears to be low. Chances of a “super-aggressive” 100bp rate hike decline as incoming data for July point to both increased preconditions for a slowdown in headline […]