Central banks ‘on the cusp’ of cutting interest rates but long-term outlook remains uncertain
The Irish economy is expected to return to expansion mode this year, albeit at a more moderate pace than recent years, underpinned by the strong performance of the domestic economy and employment growth, AIB has said.
“Our latest forecasts point to continued growth in the Irish economy in the coming years,” Mr McNamara said. “However, this growth will be more moderate than the exceptional pace of recent years as the economy bounced back from the pandemic. The Irish economy continues to create jobs, and inflation has returned to normal ranges.”
“While there is some disagreement as to where exactly long-term interest rates will land, they are likely to be higher than the ultra-low rates of the 2010s,” according to the report. Modified domestic demand, a growth metric for the domestic economy which attempts to strip out the distorting effect of the multinational sector, is also expected to grow by 2.4 per cent in 2025 and 2.6 per cent.
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