Irish shares and Government bond yields fell today as a political manoeuvre by UK prime minister Boris Johnson was seen as boosting the chances of a crash-out Brexit at Halloween and an early British election.
The head of the ECB Mario Draghi came close to confirming that some interest rates are heading lower in September -- and a senior analyst says this will provide Finance Minister Paschal Donohoe with a ‘Draghi bounty’ and more ‘fiscal room’ in his autumn budget.
The Central Bank fine on Campbell O’Connor, which is closing down after almost 60 years in business, was reduced to €280,00 from €400,000 after it admitted to the breaches and co-operated with the regulator from an early stage.
Sterling and European shares fell as the risk of the UK accidentally dropping out of the EU without a deal increased, as European Council President Donald Tusk told Theresa May she can have a short Brexit delay but only if the deal is voted through by the UK parliament next week.
Hopes that UK Prime Minister Theresa May could clinch a last-minute deal with the EU boosted sterling against the euro, as markets continued to predict that any Brexit involving Britain crashing out at the end of the month was most unlikely.
House prices will rise 10% this year across the State and climb at even faster pace outside of Dublin, fuelled by the Government’s Help to Buy scheme and the Central Bank’s loosening of its mortgage lending controls, Davy Stockbrokers has predicted.
The cloud of uncertainty over Ireland caused by Brexit will likely take years to lift amid concerns over the looming EU-UK talks but the economy will nonetheless perform relatively strongly in the coming years, according to a major report from Investec Ireland.
After the UK parliament provided its backing for the EU withdrawal bill, the British Prime Minister told MPs that “this will be a defining moment for our whole country as we begin to forge the new relationship with Europe and a new role for ourselves in the world”.