Growth forecast despite interest rates and weak dollar

Niall Dunne of Ulster Bank today compared the economic situation in the 1970s with the present day, and concluded that Irish businesses will face a weaker dollar and higher interest rates in the near future, just as they did 30 years ago.

In the bank’s Global Economic Forecast for 2005, Dunne says that the global market is underestimating the risk of inflation, policy reaction could result in higher interest rates and that worsening deficits will weaken the dollar