NTMA sticks to plan as yields tumble

Ireland doesn’t need to jump in to tap sovereign debt markets even as yields have tumbled following the shock decision of the UK to leave the EU, the head of the National Treasury Management Agency has said.

Chief executive Conor O’Kelly said the fall in interest rates on Government bonds did not signal any “cataclysmic” outcome after Brexit, while the liquidity provided by central banks was helping markets to a great extent.

Mr O’Kelly said the NTMA was unlikely to change its plans this year for bonds issuance in light of the lower yields.