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Bank failures have been put in the spotlight by the recent collapses in the United States of Silicon Valley Bank and Signature Bank and the UBS rescue of Credit Suisse.

ECB backs draft EU rules for winding down smaller banks

The European Central Bank has backed proposed new EU rules for closing down smaller banks when they fail, but said they should be more ambitious and apply across the bloc.

Business • 06 Jul 23

Last week, the ECB raised its key interest rates by another quarter of a percentage point

ECB's De Cos sees another rate hike in July

The European Central Bank will need to raise interest rates further in July to combat inflation but the path afterwards remains unclear, ECB policymaker Pablo Hernandez de Cos said today.

Business • 23 Jun 23

The bank's standard variable rate is to climb by 0.35% to 4.3% from 31 July.

Permanent TSB to hike variable mortgage rates

Variable rate mortgage customers of Permanent TSB are to see the rates they are paying increase by between 0.05% and 0.4%.

Business • 20 Jun 23

The 20-nation bloc's adjusted current account surplus fell to 4 billion euros in April from 31 billion a month earlier.

Euro zone current account surplus narrows in April

The euro zone's current account surplus narrowed in April as the bloc's trade surplus fell by over half on weaker exports, data from the European Central Bank shows.

Business • 20 Jun 23

ECB President Christine Lagarde singled out rising salaries as a prime cause for high growth in prices

ECB officials split over September rates decision

The European Central Bank should err on the side of further interest rate hikes as inflation could come in even higher than it expects, two ECB policymakers said today, even as the bank's chief economist opened the door to a pause.

Business • 19 Jun 23

Yesterday, the ECB raised rates to a 22-year high of 3.5% yesterday.

ECB rate hikes may need to last beyond summer

The European Central Bank needs to keep raising interest rates, policymakers said today, reaffirming the bank's stance after fresh projections showed that inflation is even more stubborn than feared.

Business • 16 Jun 23

ECB raises rates to 22-year high, signals more to come

The European Central Bank raised borrowing costs to their highest level in 22 years today and left the door open to more hikes, extending its fight against inflation that remains stubbornly high even as the euro zone economy flags.

Business • 15 Jun 23

Governor of the Central Bank of Ireland Gabriel Makhlouf said another rate rise in July is 'probable'

Hints and nudges as ECB eyes up interest rate rise

The hints have been dropped and thoughts have been nudged. The customary trailing of remarks by members of the ECB's Governing Council before they all meet in Frankfurt next week leaves little doubt interest rates will be increased by another quarter of one percent.

Analysis and Comment • 11 Jun 23

The ECB has raised interest rates again today - increasing them by 0.25%

ECB raises rates by 0.25% and signals 'not pausing'

The European Central Bank eased the pace of its interest rate hikes today and kept its options open on future moves as it continues its fight against stubbornly high inflation in the euro zone.

Business • 04 May 23

First Republic Bank was rescued yesterday

ECB sees no contagion risk to euro zone banks

European Central Bank supervisors see no contagion for euro zone banks from recent sector turmoil after U.S. lenders threw First Republic Bank a $30 billion lifeline and tapped record amounts from the Federal Reserve.

Business • 17 Mar 23

Today's half point increase by the ECB brings the euro area base rate to 3%

ECB increases euro zone interest rates again

The European Central Bank raised interest rates by 50 basis points today as promised, ignoring financial market chaos and calls by investors to dial back policy tightening at least until sentiment stabilises.

Business • 16 Mar 23

It is just a month since Finance Ireland last announced an increase in rates.

Finance Ireland to increase fixed mortgage rates

Non-bank lender, Finance Ireland, is increasing its fixed mortgage rates by up to 0.75%.

Business • 13 Mar 23

Mr Makhlouf also indicated he doesn't think rates will come down again later this year

Makhlouf suggests interest rates could go beyond 3.5%

The Governor of the Central Bank has said he thinks the European Central Bank could raise interest rates above the 3.5% mark.

Business • 14 Feb 23

Eurogroup President Paschal Donohoe and ECB President Christine Lagarde

ECB chief says need to roll back energy price measures

European Central Bank President Christine Lagarde said discussions were held with Eurogroup President Paschal Donohoe in Frankfurt yesterday on the need to "start rolling back" measures introduced by governments across Europe to shield people from price rises.

Business • 02 Feb 23

The ECB, as expected, has increased euro zone interest rates again today

ECB raises interest rates by 0.5%, signals more to come

The European Central Bank raised interest rates again today and pencilled in at least one more hike of the same magnitude next month.

Business • 02 Feb 23

The euro climbed 0.2% to $1.0891 after data showing Spain's consumer prices rose 5.8% in January

Euro rises as dollar slips to eight month low

The euro rose today after unexpectedly high Spanish inflation data raised expectations for a higher euro area print on Wednesday, while the dollar languished near an eight-month low ahead of a slew of central bank meetings this week.

Business • 30 Jan 23

French ECB policymaker Francois Villeroy de Galhau

ECB's Villeroy sees rate hikes at a 'pragmatic pace'

Interest rate hikes by the European Central Bank will need to come at a "pragmatic pace" in the coming months, French ECB policymaker Francois Villeroy de Galhau said today.

Business • 11 Jan 23

ECB must step up efforts to 'green' monetary policy

The European Central Bank must adjust its monetary policy to make it more climate-friendly, even as it shrinks its bloated balance sheet to fight runaway inflation in the euro zone, ECB board member Isabel Schnabel said today.

Business • 10 Jan 23

The ECB may have to go further for longer when it comes to increasing rates

More mortgage pain ahead as rates set to rise further

Christmas has come early for hundreds of thousands of mortgage holders across the country today.

Business • 15 Dec 22

There are around 200,000 tracker mortgages remaining in the country.

Main banks to pass on ECB hike to tracker customers

The main banks here say they will all be passing today's ECB interest rate hike on to tracker mortgage customers, but variable and fixed rate borrowers will be spared for now.

Business • 15 Dec 22

The European Central Bank has increased rates again

ECB raises interest rates by 0.5%, signals more to come

The European Central Bank raised interest rates for the fourth time in a row today, although by less than at its last two meetings, pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation.

Business • 15 Dec 22

Consumer prices in the 19 countries sharing the euro grew by 10% this month

Euro zone inflation falls for first time in 17 months

The annual rate of inflation across the euro area eased back to 10% in November, according to an initial 'flash' estimate from the EU's statistical agency Eurostat.

Business • 30 Nov 22

However, ECB President Christine Lagarde said on Monday inflation in the 19-country euro zone has not peaked

German inflation in key states eases in November

German inflation dipped in five states in November, suggesting cost pressures eased in Europe's largest economy - a welcome development for the European Central Bank but unlikely to weaken its resolve to tame prices.

Business • 29 Nov 22

The ECB raised rates by a further 0.75% in its third hike so far this year

Banks to write to tracker customers following rate hike

The main retail banks have said they will be writing to their tracker mortgage customers to inform them of their new interest rates, following today's rate hike by the European Central Bank.

Business • 27 Oct 22

The euro, which had hit a one-month high of $1.0094 versus the dollar earlier in the day, tumbled back below parity

Euro falls against the dollar after ECB rate hike

The euro briefly fell back below parity with the dollar today after the European Central Bank (ECB) raised interest rates, and US data showed that the world's biggest economy rebounded more than expected in the third quarter.

Business • 27 Oct 22