Slowdown in corporation tax receipts now 'closer to materialising' 

Commercial real estate prices in Ireland have fallen by more than 20% since the middle of 2020.

Governor of the Central Bank of Ireland Gabriel Makhlouf: 'The full extent of higher interest rates and monetary policy pass-through still lies ahead.' Picture: Darragh Kane

Despite resilience in the Irish economy and inflation coming down, a number of risks are “closer to materialising” including a slowdown in corporation tax receipts and exports, the Central Bank of Ireland has warned.

According to the bank’s latest financial stability review, as a result of high inflation — which has been falling but underlying inflation has proven to be more persistent — the global economy is facing higher interest rates over a prolonged period of time which is raising the risk to financial markets.