Multinational exporters will help cushion the Covid-19 economic fallout in Ireland

In its latest quarterly report, the Central Bank presents two outcomes that both project substantial risks to a rapid economic recovery.

Total Covid-related unemployment will spike again if the Government were to sanction new temporary restrictions, but the economy is likely to adapt more quickly than was the case under the first lockdown, the Central Bank has said.

The Central Bank's new forecasts were issued yesterday before the Government rejected the advice of its top health official recommending a return to lockdown.