Hurley predicts recovery in economic growth next year

The Governor of the Central Bank is predicting that economic growth in Ireland will pick up again next year.

In a speech to the annual conference of the Institute of Internal Auditors today, John Hurley said he expected inflation to moderate over the coming year and house prices to continue returning to realistic levels.

Mr Hurley said competitiveness would be key to Ireland's economic performance and this could be achieved through pay restraint, less bureaucracy for businesses, more investment in infrastructure and continued promotion of research and development.

Elsewhere, he also said he believed Irish banks were well-placed to deal with the current international financial uncertainty.