Oireachtas Joint and Select Committees

Wednesday, 20 March 2024

Committee on Budgetary Oversight

Stability Programme Update: Discussion (Resumed)

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein)
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I really appreciate that and I thank Dr. Kelly. I ask him to do that because there are mixed messages in a sense coming out from the Central Bank. I think the Central Bank has a central role to play for us in trying to get this right not only to protect taxpayers' money but also to enable people to get on with their lives. Banks should never be capitalising from people's misery on assets that are worth zero. All people are asking for is for those assets to be restored. They are not buying new assets; they are asking for them to be restored. I would really appreciate it, therefore, if Dr. Kelly would take that back on this occasion.

In the quarterly bulletin, the Central Bank is now projecting inflation below 2% in both 2025 and 2026. Should that be a factor now as the ECB considers interest rates? What role does the Central Bank of Ireland have in feeding into the issue of interest rates?