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PTSB cuts 4-year fixed rate mortgage rate by 0.3%

PTSB is again cutting the rate it charges for 4-year fixed rate mortgages, this time by up to 0.3%.

Norges Bank, Norway's central bank, made no changes to its interest rates today

Norway keeps interest rate on hold, eyes autumn cut

Norway's central bank kept its benchmark interest rate unchanged at 4.5% today, as unanimously expected by analysts, and signalled that it only plans a single rate cut this year.

Business • 21 Mar 24

The Swiss National Bank today cut rates for the first time in nine years

Swiss National Bank surprises with interest rate cut

The Swiss National Bank cut its main interest rate by 25 basis points to 1.5% today, a surprise move which made it the first major central bank to dial back tighter monetary policy aimed at tackling inflation.

Business • 21 Mar 24

Reserve Bank of Australia Governor Michelle Bullock

Australia's central bank holds rates as expected

Australia's central bank held interest rates steady today and watered down its tightening bias, signalling greater confidence that inflation is moving back to its target as the economy slows.

Business • 19 Mar 24

The central bank governors of Ireland, Spain, the Netherlands, Greece and Slovakia have all publicly backed a rate cut for June

ECB ready in June to discuss rate cuts, de Guindos says

The European Central Bank will be in position to discuss an interest rate cut in June, Vice President Luis de Guindos said today, joining a long list of policymakers putting the June 6 meeting on the table for a potential start of policy easing.

Business • 19 Mar 24

The Bank of Japan has today raised rates for the first time in 17 years

Bank of Japan ends negative rates policy

The Bank of Japan has today ended eight years of negative interest rates and other remnants of its unorthodox policy, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus.

Business • 19 Mar 24

A growing number of market-watchers expect Japanese rates to increase next week - though many still think a move won't come until April

Japan moves closer to ending era of negative rates

Bigger-than-expected pay hikes by major Japanese firms have significantly heightened the chance the central bank will end eight years of negative interest rate policy next week, marking a landmark shift away from its huge stimulus programme.

Business • 15 Mar 24

Clothing and footwear prices fell by 3.6% in the year to February, according to the CSO

Inflation continued to ease in February - CSO

The rate of inflation continued to ease last month, according to new data from the Central Statistics Office.

Business • 14 Mar 24

ECB to wean banks off free cash at gentlest pace

The European Central Bank wants to wean banks off free cash but it will try to do so gently enough not to upset the financial system or lending, the result of its long-awaited Operational Framework Review showed today.

Business • 13 Mar 24

Term deposit rates fell 0.22% to 2.51% during January, new Central Bank figures show

Mortgage rates rose in January to 7th highest in eurozone

The average interest rate on new mortgages in Ireland rose in January, according to new data from the Central Bank.

Business • 13 Mar 24

Markets now see four interest rate cuts from the European Central Bank this year, with the first move coming in June

ECB rate cut coming, but not just yet - Kazimir

The European Central Bank is increasingly confident that inflation is coming down, but should still hold off on an interest rate cut until June, Slovak Governing Council member Peter Kazimir said today.

Business • 11 Mar 24

The ECB has three meetings before its summer recess - on April 11, June 6 and July 18

ECB policymakers line up behind upcoming rate cut

European Central Bank policymakers today lined up in support of an interest rate cut in the coming months as inflation in the euro zone falls faster than they had anticipated.

Business • 08 Mar 24

The US Federal Reserve meets later this month to decide on US interest rates

High market hopes for global rates cuts by mid year

Market hopes are high that big central banks will cut rates around mid-year

Business • 07 Mar 24

The President of the European Central Bank, Christine Lagarde, speaking today as the ECB kept euro zone rates steady

ECB takes small step towards rate cut as inflation slows

The European Central Bank kept borrowing costs at record highs today but took a first, small step towards lowering them, saying inflation was easing faster than it anticipated only a few months ago.

Business • 07 Mar 24

The Bank of Canada increased rates by 475 basis points to a 22-year high between March 2022 and July 2023 and has kept them on hold since then

No changes from Bank of Canada, says too early for cuts

The Bank of Canada kept its key overnight rate steady at 5% today as expected and said it was still too early to consider a cut, given the persistence of underlying inflation.

Business • 06 Mar 24

AIB's CEO Colin Hunt and the bank's chief financial officer Donal Galvin

AIB posts 'exceptional' profits of €2.058 billion

AIB has reported "exceptional" after tax profits of €2.058 billion for 2023, up from €765m the previous year and said that overall credit quality remains robust against the backdrop of inflation and higher interest rates.

Business • 06 Mar 24

The Swiss National Bank exited negative interest rates in 2022 and has paid interest of 1.75% since June last year to commercial banks which lodge money with it overnight

Higher interest rates drag Swiss National Bank to a loss

The Swiss National Bank has today posted an annual loss of 3.2 billion Swiss francs ($3.62 billion) for 2023, as a switch to positive interest rates cost it dearly and meant it could not pay a dividend for a second year in a row.

Business • 04 Mar 24

Inflation across the 20-nation euro zone fell to 2.6% in February from 2.8% a month earlier, new figures show today

Euro zone inflation dips less than expected

Euro zone inflation dipped last month but underlying price growth remained stubbornly high, adding to the case for the European Central Bank to hold interest rates at record highs a bit longer before starting to ease policy towards mid-year.

Business • 01 Mar 24

New figures today show that inflation eased in Ireland, France, Spain and many of Germany's largest states in February

Dip in euro zone inflation bolsters case for ECB easing

Euro zone inflation dipped further this month, strengthening the case for the European Central Bank to start easing interest rates from record highs later this year, data from some of the euro zone's biggest economies showed today.

Business • 29 Feb 24

Bank of Ireland's new mortgage lending in Ireland came to €4.9 billion - an increase of 25% on 2022

Bank of Ireland shares fall 11% despite €1.9bn profit

Bank of Ireland will more than triple returns to shareholders for the second successive year, the country's largest lender said today after higher interest rates helped it to nearly double full-year profit.

Business • 26 Feb 24

The ECB said its loss before the release of provisions was €7.9 billion after a loss of €1.6 billion in 2022

ECB reports record loss for 2023 as rate hikes bit

The European Central Bank has today reported a record annual loss for 2023 and said further losses were likely as its aggressive interest rate hikes force it to pay out billions of euros to banks.

Business • 22 Feb 24

The latest ECB minutes show that policymakers seemed more optimistic about inflation prospects than at any time in years

Minutes shows ECB more hopeful on inflation

European Central Bank policymakers agreed last month that inflation is coming under control but any talk of rate cuts was premature given rapid wage growth and abundant underlying price pressures, published accounts of their meeting showed.

Business • 22 Feb 24

Kristalina Georgieva, the Managing Director of the International Monetary Fund

IMF, World Bank warn Gaza war imperil global economy

The IMF and World Bank warned today that the Gaza war and the related attacks on shipping through the Red Sea pose threats to the global economy.

Business • 12 Feb 24

ECB policymaker Pierre Wunsch is the Belgian central bank governor

ECB should wait to cut rates, then take a bet - Wunsch

The European Central Bank should wait for more wage data before cutting interest rates but it will then have to take a gamble on whether inflation is falling for good, ECB policymaker Pierre Wunsch said today.

Business • 08 Feb 24

Societe Generale is France's third-biggest listed bank

SocGen's Q4 earnings slide but retail bank a bright spot

French bank Societe Generale has today reported a sharp drop in fourth-quarter net income, although the lender beat analyst expectations thanks to signs of recovery in its domestic retail business and stable investment bank trading revenue.

Business • 08 Feb 24

Interest Rates

PTSB cuts 4-year fixed rate mortgage rate by 0.3%

Norway keeps interest rate on hold, eyes autumn cut

Swiss National Bank surprises with interest rate cut

Australia's central bank holds rates as expected

ECB ready in June to discuss rate cuts, de Guindos says

Bank of Japan ends negative rates policy

Japan moves closer to ending era of negative rates

Inflation continued to ease in February - CSO

ECB to wean banks off free cash at gentlest pace

Mortgage rates rose in January to 7th highest in eurozone

ECB rate cut coming, but not just yet - Kazimir

ECB policymakers line up behind upcoming rate cut

High market hopes for global rates cuts by mid year

ECB takes small step towards rate cut as inflation slows

No changes from Bank of Canada, says too early for cuts

AIB posts 'exceptional' profits of €2.058 billion

Higher interest rates drag Swiss National Bank to a loss

Euro zone inflation dips less than expected

Dip in euro zone inflation bolsters case for ECB easing

Bank of Ireland shares fall 11% despite €1.9bn profit

ECB reports record loss for 2023 as rate hikes bit

Minutes shows ECB more hopeful on inflation

IMF, World Bank warn Gaza war imperil global economy

ECB should wait to cut rates, then take a bet - Wunsch

SocGen's Q4 earnings slide but retail bank a bright spot