Central Bank Governor Makhlouf meets with businesses and students on visit to Cork

While visiting, the governor reiterated the Central Bank's job to "maintain financial stability" and the need to understand the impact of rising interest rates

Gabriel Makhlouf, Central Bank Governor this week visited Cork Chamber, UCC and Network Ireland Cork

Central Bank of Ireland Governor, Gabriel Makhlouf met with local businesses, educators and students in Cork this week as part of a series of local events that he will attend across the country this year.

First meeting with Cork Chamber, Makhlouf spoke with representatives about their experience of the local economy, the challenges facing them, and the Central Bank's ongoing review of the Consumer Protection Code.

The governor was then joined in UCC by students, the Dean of the Business School, Thia Hennessey and President, John O'Halloran for a meeting and subsequent question and answers in which students voiced their views on the current economic landscape in light on rising ECB policy rates.

Makhlouf also discussed the labour market at a meeting with Network Ireland Cork, part of a nationwide organisation which drives the personal and professional development of women. He also asked for views on the banking sector and the level of support for business.

Governor of the Central Bank of Ireland Gabriel Makhlouf with President of Network Cork Ingrid Seim at the Network Ireland Cork lunch in the Metropole Hotel as part of the governors visit to Cork. Photo Darragh Kane

Commenting after the meetings, Governor Makhlouf said that it was extremely important to him that he gets to visit and hear from all parts of Ireland.

“I enjoyed meeting owners and representatives of so many businesses in Cork today. It’s important that the Central Bank listens to and engages with people all around Ireland and that our work is informed by real-life experiences and viewpoints. 

"We want to listen to local businesses and people about what they are experiencing in the current economy, how inflation is impacting their lives, and talking about why we have raised interest rates."

The governor also reiterated the Central Bank's job to maintain financial stability and the need to understand the impact of rising interest rates on people's lives. 

"We are acutely aware of that impact and today’s discussion with diverse businesses and sectors will be invaluable to us," Mr Makhlouf continued.

“I particularly enjoyed the opportunity today to meet students from UCC and answer their questions about the work of the Bank and the wider economy. I hope to see some of them join the Bank as colleagues in the future.”