Draghi to take action against deflation threat
Borrowing costs could fall again within months, most economists believe.
European Central Bank governor Mario Draghi will probably take action within two months against the threat of deflation, a Bloomberg survey of economists said.
Almost two-thirds of respondents in the monthly survey now predict the ECB president will ease policy by June. Of those economists, just under half said he may implement multiple measures ranging from interest-rate cuts to asset …
Bank of Ireland chief tells TDs of tough line on mortgage arrears
BANK of Ireland has claimed that rescue loans it has repaid to the State have helped to pay for public services and keep down taxes.
The claim by chief executive Richie Boucher was made as he said his bank would seek to veto any proposal from Personal Insolvency Practitioners (PIP) featuring mortgage write-down for its customers.
Bank of Ireland’s policy is only to write off mortgage debt in cases of …
End of austerity: we’ll escape €1.5bn in cutbacks
The country will be spared most of the €2bn in planned cutbacks if economic growth continues at current levels.
In one of the most optimistic assessments since the economic crisis began in 2008, the ESRI predicted there may be no need for a final austerity budget this year.
It forecasts the economy is set to grow by a “vigorous” 2.6pc this year and 3.5pc in 2015, a level which would …
BofI's Richie Boucher tells Finance committee it's ahead of mortgage restructuring targets
BANK of Ireland says it is significantly ahead of targets to restructure problem mortgages set by the Central Bank.
Offers were made to 64pc of customers who are three months or more behind on their home loan, against a target of 50pc set by authorities.
Deals had been completed in relation to 40pc of the problem mortgages, against a target of 15pc, officials at the bank said.
Thouands of Permanent TSB customers left without payments over night
HOUSANDS of Permanent TSB customers have failed to receive payments overnight due to a third party technical glitch.
The delay-payments issue is currently being rectified and is expected to be fixed within a few hours.