Comments by ECB chief economist over the steep path inflation still has to take may mean mortgage rates here stay lower for longer, an economist has said.

Ireland remained Europe’s fastest growing economy last year after expanding at a pace not seen since the heyday of the Celtic Tiger 15 years ago.

Ireland’s seasonally adjusted trade surplus soared by 32% to just under €4.3bn in November — the third consecutive month where a rise was evident and the biggest increase since last August.

IRISH Life & Permanent has restated its 2004 results to adjust them for new international financial reporting standards (IFRS) now in effect.