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Rentals above pre-pandemic levels – report

Rentals in Ireland rose by 11.2% in the year to May 2022, still well above pre-pandemic levels. However, double-digit inflation and sharp price gains are set to give way to greater concerns on affordability, the economic outlook and the impact of the ECB raising interest rates, according to Conall MacCoille, Chief Economist at Davy. And based on anecdotal evidence from estate agents, he expects price inflation to slow in the…

July interest rate hike on the cards

As the anticipated July interest rate hike looms, Central Bank of Ireland governor Gabriel Makhlouf said at a recent Ibec national council meeting that the current deposit rate of minus 0.5% should be “in positive territory by early next year”. He added that “the first move in the European Central Bank’s interest rates will happen soon after net asset purchases end”. Bond-buying under the ECB’s asset purchase programme was introduced in late 2014.…