CENTRAL BANK HOPEFUL BREXIT DEAL WILL COME TO PASS

The Central Bank says it still believes some sort of deal will be done to avoid the UK crashing out of the EU.

It’s issued a stark warning, claiming a no-deal Brexit will have an “immediate and adverse effect” on Irish economic growth and will lead to 50,000 less jobs being created over the next 2 years.

The Bank is forecasting growth of 4.2% this year for the Irish economy, but that reduces to just 1% if the UK leaves the EU without a deal.

Mark Cassidy, Director of Economics and Statistics with the Central Bank, says incomes in some sectors will experience a shock if there’s no deal.

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