Oireachtas Joint and Select Committees

Tuesday, 23 March 2021

Committee on Budgetary Oversight

Pre-Stability Programme Update: Discussion

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

My next question relates to the Central Bank's concern for price stability. I was not surprised that it joined in the chorus of those who have criticised the shared equity scheme as being inflationary and further pushing home ownership out of the hands of many people. The Land Development Agency is also of great concern. Has the Central Bank carried out an estimate of the price impact of these two Government initiatives? What is its view on the recently announced move by the New Zealand Government to require its central bank to consider house prices when making decisions about monetary policy alongside other factors such as inflation and unemployment?

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