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1.Interest rates rise ‘unlikely for 18 months’
Thousands of homeowners with trackers are set to enjoy record low interest rates for another 18 months. Economists believe it will be April 2015 before rates rise, in what will come as a huge relief for the 375,000 people with tracker mortgages.
Despite a rapid increase in measures aimed at promoting lending to SMEs over recent years, Ireland is still in the middle-range when compared with countries across the OECD, according to a new study by the Central Bank.
Almost one in four defined benefit pension schemes will close this year, the Irish Association of Pension Funds says. At the start of the year, there were just under 1,000 such schemes operating. That figure is now down to 820, and IAPF chairwoman Ms.Ingle said it was likely to be around 750 by year end.
Nearly €5bn worth of fresh investment in onshore wind energy projects is expected to be made over the next seven years.
The Government has received a timely boost ahead of this month’s budget with the latest exchequer figures numbers indicating it is on course to hit its main fiscal targets for the year, and new Live Register data showing unemployment at a 3.5 year low.