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Wednesday 29 November 2023 Dublin: 4°C

# Central Bank

Last week
19th November 2023 - 25th November 2023
Early signs of repayment challenges for vulnerable mortgage holders, the Central Bank says
The Central Bank said the full impact of higher interest rates still lies ahead.
Last month
October 2023
Central Bank warns of scam targeting consumers seeking cash loans from online providers
The scam offers consumers a cash loan in exchange for an upfront fee or an administration fee to apply for a loan.
This year
Property prices continue to rise, with the average house price now at €320,000
Prices in Dublin have fallen while prices in all other counties have risen by 3.8%.
Central Bank says Irish banks slower to pass on ECB policy rate changes than euro area
The ECB increased interest rates, for the ninth consecutive time, by 0.25% in July.
Outdated information put on over 20,000 credit reports due to Central Bank error
Information was retained on the Central Credit Register for longer than it should have been.
Irish government dismisses suggestion of Italian-style windfall tax on bank profits
The future of Ireland’s existing bank levy will be decided in the Budget.
Central Bank launches €15 silver proof collectibles coin for Ireland Women’s footballers
It comes ahead of the team’s opening Women’s World Cup match against hosts Australia next week.
Caution urged over spending corporate tax receipts, as Varadkar warns about fueling inflation
Taoiseach Leo Varadkar today said it is important not to fuel inflation – a mistake previous administrations have made.
Central Bank: Cost of living crisis to ease with predicted wage increase
The Irish economy, it says, is resilient, despite many “shocks” in recent years.
Central Bank warns poor housing supply is a 'constraint' on Irish economy
The Bank revised its consumer price inflation forecasts down to 5% due to a more positive outlook for energy prices this year.
PAC suspends meeting over unanswered questions and inattendance of Central Bank governor
Members became increasingly frustrated today when they felt their questions were not answered.
Central Bank governor says cost of living increases have resulted in 'erosion of living standards'
Gabriel Makhlouf was speaking before the Oireachtas Committee on Finance, Public Expenditure and Reform this afternoon.
Michael McGrath says that Ireland’s rate of inflation has peaked
‘Inflation has actually peaked and is now on a downward trajectory,’ Minister Michael McGrath said.
Last year
'Serious concern' as Central Bank issues €738m to government in excess of funds available
The incident occurred following spending oversight from the Department of Finance and the Central Bank.
AXA firm fined €3,640,000 for failures in handling conflicts of interest and risk management
The Central Bank’s Seána Cunninham said the failures could affect the firm’s ability to fulfil its commitment to consumers.
Households facing combined shock from inflation and interest rates
The Central Bank has published a new review into Ireland’s financial stability.
Wages in Ireland increased by 4.7% in the year to October, according to new figures
Analysis by Indeed and the Central Bank indicate that wage growth ‘accelerated sharply’ in the first half of the year.
Analysis: We can expect to see interest rates continue to march higher this week
Economist Victor Duggan looks ahead to the expected ECB rate hike tomorrow.
Central Bank launches €15 Luke Kelly coin - you can buy it for €65
Only 3,000 coins are being issued.
Mortgage change rules to 'boost purchasing power' of renters
The share of renters that can purchase a three-bed semi-detached home in Dublin has fallen since 2015, says the Central Bank.
Mortgage lending limits: What will the new Central Bank announcements mean for you?
An easing of lending restrictions announced today will make a mortgage more accessible for first-time buyers
Housing minister welcomes mortgage rule change but concerns raised about house price increases
Concerns have been raised about increasing borrowing limits when supply remains low.
Central Bank rule change: First-time buyers to be able to borrow four times gross income
A review into mortgage lending began last year.
Consumer price inflation forecasts revised upwards to 8% by the Central Bank
A report by
Hayley Halpin
The Central Bank has published its latest quarterly bulletin today.
The Central Bank has published its latest quarterly bulletin today.
The Bank says energy-driven inflation is the key issue being faced currently.
The outlook for domestic growth over the coming quarters is "more challenging than was previously expected", it says.
Food businesses remaining closed early in week to save on energy costs
Cost cited as most important factor for Irish consumers when buying food
Timeline: How the tracker mortgage scandal unfolded in Ireland
Bank of Ireland has been fined €100,520,000 by the Central Bank for its role in the controversy.
Bank of Ireland hit with record €100.5 million fine over tracker mortgage scandal
The bank denied nearly 16,000 of its customers access to cheaper tracker mortgages.
The bank was sanctioned for denying nearly 16,000 customers access to cheaper tracker mortgages.
The Central Bank said Bank of Ireland’s failures resulted in the loss of 50 properties, including 25 family homes.
Bank of Ireland admitted in full to 81 separate regulatory breaches.
Bank of England launches emergency bond-buying action as UK borrowing costs soar
It comes after the International Monetary Fund called on the UK government to ‘reevaluate’ its tax-cutting strategy.
Central Bank fines Danske for anti-money laundering and terrorist financing systems failures
It relates to three breaches over a period of almost nine years, between 2010 and 2019.
Man released without charge after being arrested for insider trading
The investigation commenced following a report to gardaí from the Central Bank of Ireland.
Central Bank warns younger generations may face lower standard of living at retirement
Demographic changes have led to a build-up in wealth among older generations, and a decline in rates of return.
Central Bank revises growth forecast downwards to 4.3%
The economy is still expected to grow over the coming years but downside risks have increased.
Banker accountability Bill brought forward to Cabinet
The Bill aims to give greater powers to regulators to punish individual misconduct.
AIB and EBS hit with fines totalling almost €100 million over tracker mortgage scandal
AIB received a record fine of €83.3 million while EBS received a fine of €13.4 million.
Ireland's financial stability report finds Ukraine war has amplified inflation here
The review also found “emerging pressures” in the housing market.
Central Bank warns that fraudulent firms are impersonating it in a bid to defraud customers
The fraudulent entities are operating as retail credit firms and using the bank’s logo and name.
Central Bank issues warning about unauthorised firm linked to businesswoman Catriona Carey
Carey is listed as the sole director of Careysfort Asset Estates Ltd.
Central Bank says more needs to be done to help customers as banks exit Irish market
The exit of KBC and Ulster Bank will whittle Ireland’s number of retail banks from five down to just three.
Buy-now-pay-later firms offering 'indirect credit' must now be authorised by the Central Bank
The regulator has also placed an interest rate cap of 23% APR on all consumer credit agreements.
Central Bank tells sector 'more needs to be done' for customers hit by KBC and Ulster Bank closures
Both Ulster Bank and KBC Bank are winding down their operations in Ireland.
Raise social welfare rates to shield struggling households from spiralling inflation, experts say
A report by
Ian Curran
The Government is set to unveil a new cost of living package this week.
Current social welfare rates were set last year when inflation was expected to peak at 4.5% annually.
But with prices on the march, household earnings are now expected to fall in real terms in 2022 for the first time since 2013.
Economists say raising core social welfare raise on a temporary basis could be the best way of protecting low-income households.