Economic and Investment Outlook

Banks passing on rate hikes to businesses Rates on new lending to corporates moved earlier than mortgage rates 5.50 5.25 Lending rates to NFCs among highest in Euro Area and have been increasing (grey equals min/max range) Lending volume to SMEs flat but rates have jumped in latest data 7 84654 Percent 3 2 1 0 | 2008 2010 2012 2014 2016 2018 2020 2022 - Ireland - Euro Area Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: ECB EUR, billion 1.75 1.50 1.25 1.00 0.75 0.50 0.25 0.00 2016 2018 2020 - 5.00 - 4.75 4.50 Percent 4.25 - 4.00 3.75 3.50 2022 Gross new lending to SMEs, Ihs Interest rates, gross new lending to SMEs, rhs Source: Central Bank of Ireland 21 21

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