World Economy/Ireland

🇮🇪

Ireland

IRL

Europe • Sovereign Currency: EUR

Analyze Ireland with Schema AI

Nominal GDP

$0.56T

2024

Annual GDP Growth

+2.0%

YoY Q3 2024 (Modified GNI*)

Inflation (CPI)

0.1%

Oct 2024 YoY (HICP)

Policy Rate

3.25%

ECB Deposit Rate

10Y Sovereign Yield

2.72%

10Y Irish Sovereign Bond

Unemployment Rate

4.0%

Oct 2024

Debt-to-GDP

43.7%

2024 (Modified GNI* base 72%)

Trade Balance

+$7.4B

Sep 2024

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇮🇪EUROPEAN CENTRAL BANK POLICY DASHBOARD

Target Instrument: Deposit Facility Rate • Sovereign: Ireland (IRL)

STANCE: neutral

Next Meeting: 2026-10-29

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

3.25%Unchanged (0 bps)

Deposit Facility Rate

REAL CARRY SPREAD (r - π)

+3.15%

Restrictive Drag

OVERNIGHT BENCHMARK (€STR)

3.20%-5 bps

Euro Short-Term Rate

YIELD CURVE SLOPE (10Y - r)

-0.53%

Inverted Term Structure

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 YoY (HICP)

Subdued inflation pressure tracking below target baseline

CSORef

0.10%

TIGHTER

Distance to Inflation Target (2.0%)Oct 2024 YoY (HICP)

Inflation below 2% target anchor by 1.90 percentage points

CSORef

-1.90%

MILD TIGHT

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024 (Modified GNI*)

Moderate real growth pace matching potential output

CSORef

2.00%

IN LINE

Unemployment Rate (Labor Slack)Oct 2024

Tight labor market conditions with minimal civilian slack

CSORef

4.00%

MILD LOOSE

FINANCIAL CONDITIONS4 METRICS

Deposit Facility RateECB Deposit Rate

Official statutory policy target rate set by European Central Bank

European Central BankRef

3.25%

MILD LOOSE

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

European Central Bank vs CSO

+3.15%

MILD LOOSE

10-Year Sovereign Benchmark Yield10Y Irish Sovereign Bond

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

NTMA IrelandRef

2.72%

LOOSER

Yield Curve Slope (10Y - Policy Rate)Calculated

Inverted yield curve by 0.53% signaling restrictive monetary drag

Sovereign Debt Desk vs Central Bank Target

-0.53%

TIGHTER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024

Trade balance surplus reinforcing sovereign foreign exchange buffer

CSORef

+$7.4B

MILD LOOSE

General Government Debt / GDP2024 (Modified GNI* base 72%)

Fiscal debt load within statutory prudential headroom boundary

NTMARef

43.70%

LOOSER

HISTORICAL RATE DECISION TRAJECTORY (DEPOSIT FACILITY RATE)

Verified Chronological Decisions

2026-10-09

3.25%

Policy Assessment Summary: Key ECB interest rate on the deposit facility.