Bank of England governor Andrew Bailey. Photo: PA
While there is no sign that the Federal Reserve in America is planning to cut interest rates any time soon, much to the annoyance of US president Donald Trump, there is likely to be a reduction across the water this week.
The Bank of England, whose governor is Andrew Bailey, is predicted to cut rates by a quarter of a percentage point on Thursday, in what could be the first in a series.
There are predictions that UK interest rates could fall by as much as a full percentage point over the next six months.
This would bring the cost of borrowing to below 3pc for the first time since 2022. The current headline rate is 4.5pc, and this is expected to be cut to 4.25pc.
On Wednesday, Enterprise Minister Peter Burke will open Start-Up Day at Dublin’s Aviva Stadium, addressing over 500 representatives of the Irish and European start-up eco-system. The event is a big annual gathering for start-ups and innovators, and provides an opportunity for them to network with potential investors.
The event will also be addressed by Kevin Sherry, the interim CEO of Enterprise Ireland, and by Jason Lynch, chief executive of Equal1.
The Central Statistics Office (CSO) will announce the Consumer Price Index for April on Thursday, while Eurostat will release figures for retail trade in the EU for the month of March on Wednesday.
The Cosmetics Association, the owner/managers of Irish indigenous distribution companies, are staging their trade fair in the RDS next weekend. This will bring products from pharmacy, beauty and department store sectors under one roof.
Also on Thursday, the National Infrastructure Summit will be staged at the Radisson Blu Royal Hotel in Dublin.
On Friday, Dublin Chamber will host a roundtable discussion with businesses to hear their perspectives on the National Development Plan (NDP).
There are results today from CRH, reporting on Q1, and next Friday we will hear from IAG, the parent company of Aer Lingus, British Airways, Iberia and Vueling.
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