Robert Shortt

Economics Correspondent

The interest rate on deposits in the Central Bank stood was 2.5% last year

Almost €97 billion held in deposits by banks here

At the end of last year, Irish resident banks held "just over €5.6 billion" in current account balances and "just under €97 billion" on deposit at the Central Bank, according to correspondence sent from the Bank to Sinn Féin's Finance Spokesperson Pearse Doherty.

Business • 27 Mar 23

The ECB Banking Supervision, the Single Resolution Board and the European Banking Authority reiterated that when a bank fails in the euro area, shareholders will incur losses first and fully before bondholders

Euro regulators distance themselves from Swiss approach

Euro area regulators have distanced themselves from the approach taken by Swiss authorities to some holders of Credit Suisse bonds.

Business • 20 Mar 23

The move is to ensure liquidity of US dollars

Central banks in coordinated move to calm markets

The world's five biggest central banks, including the European Central Bank, have agreed to provide additional layers of funding to the financial system as markets brace themselves for any fallout from a deal struck tonight to rescue Credit Suisse.

Business • 19 Mar 23

Turbulence is being felt across US and EU financial markets after the collapse of Silicon Valley Bank (file image)

Where is inflation going next and what does that mean?

It is now not as sure as it was just a few short weeks ago that more rate rises are warranted, and that is something we should all be concerned about, writes Robert Shortt.

Business • 17 Mar 23

The median price of a property nationwide was €305,000 in January, today's CSO figures show

Home price growth slows to 6.1% in January - CSO

The pace of residential property price inflation slowed to an annual rate of 6.1% in January, compared to an annual rate of 7.7% in December, according to the latest Central Statistics Office figures.

Business • 15 Mar 23

Saudi National Bank holds a 9.88% stake in Credit Suisse

Swiss regulators rush to calm fears over Credit Suisse

Swiss regulators said Credit Suisse can access funds from the central bank if needed, racing to calm fears around the lender after it led a rout in European bank shares today.

Business • 15 Mar 23

The number of total planning applications granted was down 20.5% in 2022 compared to 2021, new CSO figures show

Planning permissions sink 43% at end of 2022 - CSO

The number of planning permission applications granted for houses and apartments fell sharply in the final quarter of last year, according to the Central Statistics Office.

Business • 10 Mar 23

The average interest rate on new mortgages rose to 2.93% for January from 2.69% in December, new Central Bank figures show

Irish mortgage rates increase in January on ECB hikes

Mortgage rates went up in January reflecting some of the effect of successive interest rate rises from the European Central Bank.

Business • 09 Mar 23

The NTMA has issued €4.75 billion of benchmark bonds so far this year

NTMA sells bonds at highest rates since 2014

The National Treasury Management Agency (NTMA) has raised €1.25 billion in the bond market today - its first bond auction this year.

Business • 09 Mar 23

New Eurostat figures show flat GDP growth in the euro zone in the last quarter of 2022

Euro zone growth flat in fourth quarter of 2022

GDP growth in the euro area was flat in the last three months of last year compared to the previous three months, according to figures published by Eurostat.

Business • 08 Mar 23