Central Bank says rates could fall again

CENTRAL Bank governor John Hurley said the worst global downturn in decades will continue for the rest of this year but further interest rate cuts could be possible.

Some recovery is possible next year but it will be slow, he told EU ambassadors.

The International Monetary Fund has forecast a 1.5% decline in the global economy this year as the world experiences “the deepest and most synchronised downturn for many decades,” he said.