Households ‘could gain by €700’

Households could be up to €700 better off by the end of the year according to the business body Ibec, which is forecasting that incomes will stabilise this year.

In a new index of consumers, the Irish Consumer Monitor, Ibec said it believes that, after two years of significant decline, incomes will stabilise this year and a further cut in ECB interest rates of 0.5% will leave mortgaged households €700 better off.

Ibec chief economist Fergal O’Brien said that a lot of people will have more money to spend.