The Central Bank has left a key control mechanism for bank lending unchanged, amid a generally subdued picture for bank lending.
The Central Bank has left the countercyclical capital buffer (CCyB) rate at 0% for the second quarter of 2017.
The rate will be effective from April 1, 2017.
While the Central Bank said that at an aggregate level bank lending remains "relatively subdued", there is positive credit growth emerging in some sectors, notably consumer loans and loans to large businesses.
It also said that while new lending continues to increase, the construction and real estate sector accounts for a "sizeable share" of new lending.
In terms of property prices, the rate of increase in commercial property prices continues to moderate and is now in single digits.
On the residential side, looking beyond some monthly volatility, the year-on-year rate of increase in prices picked-up somewhat during 2016.
"Private non-financial sector credit continues to decline, albeit the rate of decline is slowing. Underlying the aggregate figures, certain pockets of positive credit growth have emerged," the Central Bank said in a statement.
"Consumer credit, fixed-rate mortgage lending and credit to large enterprises are all now seeing consistently positive rates of credit growth. In addition, new lending continues to increase. The construction and real estate sector accounts for a sizeable share of new lending," the bank added.
In a note today Davy Stockbrokers said they did not anticipate increases in the CCyB in the near term "given the impact of the macroprudential rules together with the aggregate credit demand backdrop".
