A Government spokesperson has said that the election, whenever it is called, will be at a time that is in the best interests of the country.
While Taoiseach Enda Kenny did leave the door open for a November election earlier this week, the spokesman pointed out that Mr Kenny has not yet publicly contradicted his earlier stated preference for a election in spring 2016.
A senior source has also said there is now an awareness between the two Coalition parties that a coherent and unified approach to the general election and its timing would serve both their interests best.
Earlier, the Chairman of the Oireachtas Banking Inquiry Ciarán Lynch appealed to Mr Kenny not to call a general election until next year to give the inquiry time to conclude its work.
Mr Lynch said his inquiry will publish its final report in mid to late January.
But he said it will be unable to issue recommendations if an election is called sooner than that date.
However, Enda Kenny has once again refused to clarify when the next election will be held.
Speaking at the opening of the Connacht Distillery in Ballina, Co Mayo, Mr Kenny would not be drawn on a polling date.
Speaking on RTÉ's Morning Ireland, Mr Lynch said that inquiry members should be allowed to complete their job, adding that all the committee's work would be lost if an election were called next month.
"The committee of inquiry, like all Oireachtas inquiries, will fall if an election is called before our work is completed in January. It's a once only opportunity and this will be lost and lost forever and not recoverable were the inquiry not allowed to finish its work and to publish its final report in January," he stated.
The Labour TD also said he would continue to support the voting pact if an early election is called.
"I'm very much of the opinion that Government should serve the full term. There's a whole job of work to be done inside in Government but the committee is separate from Government," he said.
The Tánaiste has said she supports Mr Lynch’s comments.
Speaking at Dublin Castle ahead of a consultation forum on the 'Pathways To Work' initiative, Joan Burton said the Labour Party was ready for an election at any time.
She said constitutionally the election date was a decision for the Taoiseach.
The Tánaiste said she was very conscious of the need to do whatever was best for the people of the country.
She said she had indicated her preference that she would like to see the work of the Government done and completed.
Asked if a November election would sour relations between Fine Gael and Labour, she said Labour was ready for an election at any stage, and the party would be fighting for every Labour vote.
A poll of 37 Fine Gael TDs carried out by @MartinaFitzg shows a strong preference for a spring 2016 General Election pic.twitter.com/EpvQYxDSpe
— RTÉ News (@rtenews) October 9, 2015
A poll of Fine Gael TDs has found a slight preference for a Spring election among those questions.
19 of the 37 TDs asked said they would prefer the election to be held early next year, while 13 would prefer if it was held in November.
Five TDs questtioned had no preference.
Minister for Transport, Paschal Donohoe said the election date was a matter for the Taoiseach.
He said his preference would be to see an election in 2016.
Mr Donohoe said the point made by Mr Lynch regarding the banking inquiry was very important and it was a factor which the Taoiseach will consider.
Commenting on the election, Sinn Féin Leader Gerry Adams said today: "The intense media speculation around a date for the election is a distraction from the real issues that are bearing down on citizens at this time.
"However, the Taoiseach's refusal to deal with the issue and the obvious discomfiture of his Tánaiste Joan Burton does expose this Government as a coalition of chaos,” he added.
