EU migrants boosting economy: BoI

Updated: 19:21, Tuesday, 23 August 2005

The high numbers of people coming from new EU member states is helping to drive economic growth, according to an analysis by Bank of Ireland.

The high numbers of people coming from new EU member states is helping to drive economic growth, according to an analysis by Bank of Ireland.

The bank's chief economist, Dan McLoughlin, also says interest rates are likely to rise by half a per cent next year.

This would add €620 a year to the average mortgage.

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