Eurozone government bonds with longer maturities surged yesterday as the region’s central banks bought sovereign debt for a second day, pushing yields closer to those on shorter-dated notes.

Euro-system central banks were said to have purchased securities, including German five-year notes with a negative yield, under the European Central Bank’s expanded quantitative- easing plan, according to three people with knowledge of the transactions.

Belgian and Italian securities were also acquired, …

There was a slight weakening in consumer sentiment in February, according to the latest consumer sentiment index from KBC Bank Ireland and the ESRI.

The index hit a nine year high in January so a decline from those levels was not unexpected.

The report’s authors point to a historic softening in the index in February as the post-Christmas festivities end and related bills arrive.

Irish borrowing costs on the bond markets fell to fresh lows yesterday as the European Central Bank (ECB) began to implement quantitative easing.

With its first purchase of government bonds under its enhanced stimulus plan, the ECB showed its willing to be patient in its efforts to reignite the euro area’s economy.

The ECB and national central banks started buying sovereign debt yesterday under the 19-month plan to inject €1.1 …

The latest eurozone GDP data show that the economy expanded by 0.3% in the fourth quarter of 2014. For the full year 2014, the eurozone economy grew by a very modest 0.9%.

However, this did represent an improvement compared to the GDP declines of 0.6% and 0.4% recorded in 2013 and 2014, respectively. The Q4 data suggest that growth is broadening. Both consumer spending and investment rose by 0.4%.

Net …

Europe’s banks need to cut costs by a fifth and simultaneously grow revenues by 15pc just to get their profitability to match their cost of capital, a study by professional services firm EY said.

European banks’ return on equity (RoE), a key measure of profitability, is likely to average less than half their cost of capital again this year, lagging well behind US rivals as lenders struggle with high costs …

The Central Bank’s new mortgage deposit rules have been blamed for contributing to a sharp fall in the growth of construction, with house building stagnating, a survey shows.

But the slowdown has spread into commercial and civil engineering as well.

While the construction sector remains in growth mode, the pace fell sharply in February, according to the latest Ulster Bank Purchasing Managers’ Index. It is the fourth month that the …

In urban Ireland, while evidence of poverty is there for all to see, there are also plenty of signs of economic recovery.

However, Eoin O’Leary of the School of Economics in University College Cork remains to be impressed.

Ireland is on a cyclical upswing, but sure enough, new problems await us, he believes, and this, he adds, is largely due to a “split personality” policy mindset. On one hand, we …

Ireland has become the top destination for US multinational investment and the economic bond between the countries is only likely to intensify, according to a leading Wall Street economist.

In a report on the economic relationship between Ireland and the US, compiled for the American Chamber of Commerce Ireland, veteran Wall Street global economist and strategist Joseph P Quinlan said Ireland has “done a very good job of aligning itself …

The European Central Bank will launch into quantitative easing next week having increased its economic growth forecasts for this year and next.

President Mario Draghi said the first bond purchases with new money would take place on March 9.

The eurozone’s central bank has said it will buy €60bn a month until September 2016 or until inflation is pushed backed towards a target of close to but below 2%.

There are still many out there who either refuse to admit that a compelling recovery is under way in the economy or simply do not believe it. The fact is that the evidence is there for all to see and is being added to on a weekly basis.

For those who have believed, mainly for politically motivated reasons, that the economy would never recover unless a left-wing government came in …