Fall in Ireland's borrowing costs may lead to savings next year

Following a scare over corporate tax revenues, the Government's finances are looking in rude health. PIcture: Laura Hutton
The cost for the Government to borrow from international debt markets has tumbled this year, as markets anticipate hefty cuts by the European Central Bank in official interest rates in early 2024.
The unexpectedly sharp falls in yields or interest rates for eurozone debt markets will likely have benefits for many European governments, including for Ireland, which may likely pay a good deal less for new borrowing from international debt markets in 2024 than anticipated as recently as October's budget.