Philip Lane: Tight window to sort infrastructure after Brexit

Current house shortages and house price increases will not prevent Ireland luring regulated UK-based banks and insurers who will need a home inside the EU after Brexit, Central Bank governor Philip Lane has said.

The “window is tight” to get infrastructure such as housing, schools and office accommodation in place but financial institutions will base their decisions on how quickly the “faults will be fixed”, Mr Lane said.

Speaking to reporters, he also expressed confidence the Central Bank’s controls over mortgage lending would prevent any future overheating of the housing market. There are many “brakes in the system”, he said.