National Accounts data show that GDP is in decline, but this largely relates to a fall in contract manufacturing activity abroad by Irish based companies
Fed holds rates steady at 22-year high for second meeting
The Fed has enacted 525bps worth of rate increases since it commenced tightening policy in March 2022. The last rate rise came in July, with a 25bps hike.
Latest survey data from the AIB Ireland Manufacturing PMI® highlighted a stabilisation in overall business conditions, following modest downturns in September and October.
BoE holds rates at 5.25% for a second straight meeting
This decision was very much in line with market expectations. It marks the second meeting in-a-row where the BoE has remained on hold. Its previous meeting in September represented its first pause after hiking for fourteen consecutive meetings, dating back to December 2021.
