Organisation: Central Bank

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Organisation: Central Bank

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>According to the Central Statistics Office, just under 32,700 homes were built last year. Picture: Leah Farrell/Rollingnews.ie</p>

companies

Central Bank warns housing supply needs to increase by 20,000 a year

Housing supply 'unable to meet our country’s needs' and 'limiting the sustainable growth of living standards', report says

<p>Finance Minister Jack Chambers said the dramatic shift in the interest rate cycle since July 2022 has had an impact on many borrowers. Picture: PA</p>

economy

New Government forum to oversee mortgage arrears reductions

<p>Markets pared back bets on the extent of further rate cuts this year, and Central Bank governor Gabriel Makhlouf said the ECB is confident that disinflation is working but added: 'It doesn’t mean, incidentally, that we know how fast we’re going to carry on or if at all.</p>

economy

ECB governors insist there is no clear path to future interest rate cuts

House prices

economy

Central Bank move may have pushed house prices higher, ESRI suggests

Bank of Ireland redundancies

companies

Bank of Ireland invests extra €34m in customer supports amid increased demand

Housing market

economy

Central Bank says inadequate support for borrowers contributes to mortgage arrears

Central Bank of Ireland

Number of mortgages in long-term arrears continues to decline, new figures show

The number of homes in arrears over 90 days stood at 29,034 as of the end of December, new Central Bank data shows

Tue, 26 Mar, 2024

State agencies pay out tens of millions in severance packages since 2019

State agencies pay out tens of millions in severance packages since 2019

Eirgrid, which made one payment above €200,000, said: 'The individual left the organisation on the basis that the terms of their departure would remain confidential'

Fri, 22 Mar, 2024

FTSE 100 stock

Housing permits soar 47% but questions remain over supply

the number of housing units that received planning permissions between October and the end of December rose to over 11,180, compared with the almost 7,600 units in the same period a year earlier

Thu, 14 Mar, 2024

FILE PHOTO The Central Bank has fined Bank of Ireland over €1 million for its role in the tracker mortgage controversy END

Mortgage relief scheme would only help better-off tracker mortgage holders, Central Bank advised

Bank said the scheme was not focused on those who were suffering most from the 'shock' of rising interest rates

Mon, 11 Mar, 2024

Contactless payment with smartphone

Ireland's digital payments landscape is 'lagging' behind other countries — Central Bank

Deputy governor said despite the infrastructure for instant payments being available to institutions since 2017, the providers of payment accounts in Ireland have not yet implemented or adopted it

Mon, 04 Mar, 2024

Tracker mortgage inquiry hears former PTSB chief executive 'singled out'

Tracker mortgage inquiry hears former PTSB chief executive 'singled out'

David Guinane served as chief executive of PTSB between 2007 and 2012.

Wed, 21 Feb, 2024

Central Bank of Ireland

Compliance workers remain wary of new regulator enforcement laws

Some professionals believe the Central Bank will be allowed to fine individuals up to €1m for rule breaking

Tue, 20 Feb, 2024

Irish budget 2014

Pay deal maintains public sector advantage over private

Public sector pay remains significantly higher on average than that of the private sector in the wake of a being agreed last week.

Mon, 05 Feb, 2024

Central Bank head Makhlouf rejects claim that Irish banking market is 'dysfunctional'

Central Bank head Makhlouf rejects claim that Irish banking market is 'dysfunctional'

Speaking to the 'Irish Examiner', Gabriel Makhlouf discusses the timing of rate rises and cuts, competition in Irish banking, the danger of stoking up inflation, and factors behind Ireland's housing shortage

Sat, 03 Feb, 2024

Central Bank governor casts doubt on early rate cut

Central Bank governor casts doubt on early rate cut

Central Bank governor Gabriel Makhlouf warned Ireland’s small export-led open economy is more exposed than others to negative external shocks arising from reduced global trade integration

Tue, 30 Jan, 2024

Mortgage Application

How the competition regulator, Central Bank, and finance ministers let down mortgage holders

For most of the last 10 years, Ireland's mortgage borrowers have been paying €3,000 a year more in interest than they would have been paying elsewhere in the eurozone

Sun, 24 Dec, 2023

Irish Budget 2024

Ireland's economy will be sluggish in 2024 if forecasts prove true

Ireland’s GDP dropped by 1.9% between July and September, the fourth quarter in a row where a contraction was recorded

Fri, 22 Dec, 2023

FILE PHOTO The Central Bank has fined Bank of Ireland over €1 million for its role in the tracker mortgage controversy END

Insurance customers no longer facing 'loyalty penalty' following regulations

Regulations introduced last year to ban charging higher premiums to customers who remain with the same insurer are working as intended, Central Bank said

Wed, 20 Dec, 2023

FILE PHOTO The Central Bank has fined Bank of Ireland over €1 million for its role in the tracker mortgage controversy END

High interest rates 'weigh on' economic growth

Central Bank said higher interest rates feeding into the system meant the economy had shifted into a 'slower growth path following the strong post-pandemic recovery'

Tue, 19 Dec, 2023

Michael McGrath was warned not to introduce mortgage interest relief in Budget 2024

Michael McGrath was warned not to introduce mortgage interest relief in Budget 2024

Department of Finance said it could exacerbate housing supply issues, and the Central Bank said it would most likely benefit those who least needed it

Fri, 15 Dec, 2023

'£260m bill' for using ATMs abroad

Banks may be forced to reinstall ATMs under new access-to-cash law

As well as providing cash machines, Finance Minister Michael McGrath will set out essential services that will have to give customers the option of paying in cash

Mon, 11 Dec, 2023

Credit Union sector has €2.1bn in loan capacity not being used

Credit Union sector has €2.1bn in loan capacity not being used

Of the 67 larger credit unions in the country, just 12 have applied for the increased lending limits

Sun, 12 Nov, 2023

ECB officials say it is 'far too early' for interest rate cuts

ECB officials say it is 'far too early' for interest rate cuts

Central Bank governor Gabriel Makhlouf told conference it was too early to say 'we've sort of reached the top of the ladder' when it comes to dealing with inflation

Wed, 08 Nov, 2023

Home tax deduction

Will struggling mortgage holders be given the relief they deserve?

A new EU directive regarding mortgage repossessions could spell good news for Irish homeowners struggling with their repayments

Mon, 06 Nov, 2023

PAYE workers will benefit from changes to tax bands and USC

PAYE workers will benefit from changes to tax bands and USC

PAYE and earned income tax credits will rise by €100 each, the 4.5% rate of USC will be cut to 4%, and the income threshold for paying USC at all will be upped to €25k

Tue, 10 Oct, 2023

Regulator wants ‘faster pass-through’ of interest rate increases

Regulator wants ‘faster pass-through’ of interest rate increases

Ireland’s high deposit-to-loan ratio 'means banks don’t need to attract deposits'

Wed, 20 Sep, 2023

Minister defends Budget plans from Central Bank criticisms

Minister defends Budget plans from Central Bank criticisms

Mr McGrath said the Government will be targeting additional spending towards households and businesses who need it the most

Tue, 19 Sep, 2023

Commuters As Companies Expand In City In A 'Silent Brexit'

Central Bank: Government's budget plans will add to short-term inflation

The bank is also expecting growth rates in the economy to slow further as capacity constraints become more of an issue

Tue, 19 Sep, 2023

Travel Stock - Frankfurt

Irish mortgage interest rates stay above eurozone average as ECB considers a 10th hike

The ECB have raised interest rates by 4.25% in an effort to get inflation to 2%.

Wed, 13 Sep, 2023

Central Bank of Ireland

Regulation and recruitment challenge financial services sector, report shows

Financial Services Ireland, which is a part of lobby group Ibec, suggested the Central Bank should examine its administration of regulation in an effort to make it more simple and streamlined

Mon, 11 Sep, 2023

Bank of Ireland technical issue

BoI customers who withdrew cash during blackout won't face damaged credit ratings

The Central Bank said: 'Lenders may wish to engage with the customer and create a new credit agreement for the overdraft.'

Fri, 18 Aug, 2023

Beer In Amsterdam

Forget headlines about falling inflation - consumers must brace for more price hikes

The rate of inflation is dropping but fuel, food, beer, and mortgages are all continuing to rise in price

Wed, 16 Aug, 2023

Fergus Finlay: Invest €1bn in solar, build rail, and be a government that leads

S Fergus Finlay: Invest €1bn in solar, build rail, and be a government that leads

Our present Government is getting closer and closer to an election in which it will be attacked every day for its failure to address the quality of life issues that beset us.

Tue, 01 Aug, 2023

Tom McDonnell: Government should abandon populist tax cuts in Budget 2024

Tom McDonnell: Government should abandon populist tax cuts in Budget 2024

We need to protect low-income households from cost-of-living pressures — not half-heartedly through once-off measures but through structural uplifts in working age and old age payments

Sun, 16 Jul, 2023

Festival tries to take digital payments to the next stage

Festival tries to take digital payments to the next stage

This year's Kaleidoscope sought to go cashless — and to get festivalgoers to make all payments onsite through its own Tappy system. Ellie O'Byrne reports on what happened next

Sun, 09 Jul, 2023

Irish favourite for senior ECB role opts not to apply

Irish favourite for senior ECB role opts not to apply

Central Bank of Ireland's Sharon Donnery chose not to apply for the position of chair of the ECB Supervisory Board, according to sources

Fri, 07 Jul, 2023

FILE PHOTO Permanent TSB has formally agreed to acquire €7.6 billion worth of assets from Ulster Bank Ireland END

Homeowners 'furious' at banks for 'profiteering' from defective blocks scandal

Government has also fallen short, with serious flaws in the Enhanced Defective Blocks [redress] Scheme which was published this week, they told the Oireachtas

Wed, 05 Jul, 2023

Blackstone Said to Plan IPO of $7 Billion Building Products Firm

Government denies Central Bank claim it will miss its housing targets

The Department of Housing has rejected a report from the Central Bank that alleges the Government will miss its housing targets for 2023, 2024 and 2025.

Wed, 21 Jun, 2023

Central Bank of Ireland

Central Bank urges caution on budget spending

"There is a risk of overheating pressures emerging, given, in particular, the conditions in the labour market,” the Central Bank analysis stated.

Wed, 21 Jun, 2023

'How is this fair?' Cork farming family risks losing everything

'How is this fair?' Cork farming family risks losing everything

A family that ran up debts after falling foul of the milk quota system is having land sold from under them by a vulture fund that bought their debt

Sun, 11 Jun, 2023

'£260m bill' for using ATMs abroad

Value of ATM cash withdrawals down 33% since pre-pandemic times

Irish people withdraw €1bn each month — half a billion euro less than they did in February 2020 at the outset of covid-19

Fri, 02 Jun, 2023

Piggy bank and Euro cash near an electricity meter and gas meter. Utility bills, consumption of electricity and gas for heating

Irish household savings increase by €8bn over the last year

Central Bank figures show total household savings has reached €152bn — up €7.9bn from April 2022

Wed, 31 May, 2023

Officials were optimistic Irish banks insulated from SVB collapse

Officials were optimistic Irish banks insulated from SVB collapse

The Financial Stability Group heard that some Irish tech firms could experience liquidity issues and loss of credit

Wed, 17 May, 2023

Vulture funds and non-banks now account for 16% of mortgage market — Central Bank

Vulture funds and non-banks now account for 16% of mortgage market — Central Bank

At the end of 2009, the sector accounted for just over 2% of the market

Tue, 16 May, 2023

Key Speakers at the Milken Summit Asia

Makhlouf: Central Banks have lost a 'degree of trust' with the wider public

Central Bank governor said central banks around the world should explain their decisions on monetary policy as the ECB continues to hike interest rates

Tue, 16 May, 2023

FILE PHOTO The Central Bank has imposed its largest ever fine against Ulster Bank for breaching its regulatory obligations towar

Eamon Quinn: State's consumer guardians not designed for the job

There is good reason to believe that consumer agencies have been landed with conflicting goals

Sun, 14 May, 2023

Central Bank resistant to capping mortgage interest rates

Central Bank resistant to capping mortgage interest rates

Finance Minister Michael McGrath has ordered the Central Bank to assess whether the funding model for vulture funds in the non-bank sector warrants the high rates of up to 7% they are now charging some customers

Fri, 05 May, 2023

Sign a house sale agreement

People in financial difficulty should avoid short term credit, says Central Bank's Kincaid

The consumer protection director people that there was a 'range of supports and options available' through lenders

Thu, 27 Apr, 2023

Commuters As Companies Expand In City In A 'Silent Brexit'

Two in five mortgage-holders likely to be insulated from rate hikes in the short-term

Those with mortgages most exposed to interest rate changes could see repayments jump between 41% and 50% by the end of the year compared to June 2022, Central Bank research shows

Wed, 26 Apr, 2023