Consumer and business confidence sours 

Level of confidence amongst businesses falls below pre-pandemic levels for the first time this year

Looming interest rate hikes mean higher mortgage bills for some households, which could affect spending.

Confidence amongst Irish consumers soured in June according to a major survey as concerns about inflation, the war in Ukraine, and threats to the Northern Ireland Protocol re-ignited households’ fears for the economy.

The Bank of Ireland economic pulse survey also found that the level of confidence amongst businesses fell below pre-pandemic levels for the first time this year.