Investor Presentaiton
External environment concerning
Central banks removing extraordinary stimulus as global slowdown expected
EA Monetary Policy
2021
2022
Purchases ended;
Rate normalisation
Expansionary
Move to >3.5%
policy rate expected
EUR, billion
Ireland price taker on Oil/Gas: €7bn (3.5% of MDD) spent on
fuel imports in Jan - July 2022, greater than all of 2021
Max accommodative
4.0
EU Fiscal Policy
Expansionary
3.5
3.0
US Monetary Policy
Max accommodative
2.5
2.0
US growth
Rebound
Decelerating growth
1.5
Oil price
Rising
Elevated
1.0
0.5
UK growth
Rebound
Decelerating growth
0.0
I
Decelerating
Euro Growth
Rebound
growth, energy
supply/costs
Global Inflation
Rising
Elevated in 2022
2006 2008 2010 2012 2014 2016 2018 2020 2022
- Gas imports (6mth rolling)
- Petroleum imports (6mth rolling)
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
Source: CSO
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