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The Cabinet has approved a plan to pay three electricity credits to every household over the next six months. It is expected that the €200 credits will be paid in November, January and March. Minister for Public Expenditure Michael McGrath said the Government has to ensure the energy credit payment is implemented “smoothly”. He also…

The Central Bank has reduced its forecasts for growth in the domestic economy next year and raised its outlook for inflation. However, its latest Quarterly Bulletin says the economy will not fall into recession and it expects the labour market to remain strong. Inflation has become more widespread and energy prices will be higher for…

The Government has set a target of growing the level of employment in the international financial services sector by 5,000 net by 2026. The target is contained in an update to the Ireland for Finance strategy, which sets out the future development of the sector over the next four years. The Government says it will…

The Cabinet is to discuss how the energy assistance measures in Budget 2023 will be implemented. Minister for the Environment, Climate and Communications Eamon Ryan will bring a memo to Government outlining how the three €200 energy credits for all households will be paid. One credit will be paid before Christmas and two afterwards. A…

The International Monetary Fund’s executive board will consider Ukraine’s request for $1.3 billion in additional emergency funding on Friday as Russia’s war against the country continues, two sources familiar with the matter said. IMF staff have prepared the necessary documents and believe Ukraine has received sufficient financial assurances from its global partners to meet the…

British Prime Minister Liz Truss and Chancellor Kwasi Kwarteng have, in a dramatic U-turn, abandoned a plan to abolish the top rate of income tax for the highest earners. Ms Truss and Mr Kwarteng announced a new “growth plan” on September 23 that would cut taxes and regulation. The plan would be funded by vast…

The euro dropped today after inflation in the euro zone hit a record high, but was heading for a weekly gain on hawkish signals from the European Central Bank as some calm returned to foreign exchange markets at the end of a wild week. Sterling was also lower as end-of-quarter demand boosted the dollar. But…

The euro has been drifting against the dollar for some time now, but has been getting stronger against sterling for months. But what this means for consumers – and particularly businesses – can be hard to pin down. When it comes to currencies, there’s always two sides to the coin. What’s happening with sterling? The…

The package of once-off measures announced as part of this week’s Budget will insulate “most households” from higher energy prices this winter, according to the ESRI. The analysis, which will be presented at a post-Budget briefing today, also warns that unless the once-off measures are repeated next year, many low-income households will see real cuts…

Euro zone inflation zoomed past forecasts to hit a fresh record high this month, reinforcing expectations for another jumbo interest rate hike from the European Central Bank in October. Price growth in the 19 countries sharing the euro accelerated to 10% in September from 9.1% a month earlier, data from Eurostat showed on Friday, beating…