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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