Economic and Investment Outlook
Ireland less vulnerable to rising interest rates
But could pose a greater threat in the medium term
Low share of adjustable rate mortgage and low HH debt to
income ratios- Ireland less exposed to rising interest rates
250
NO
...but most mortgages in Ireland exposed to higher interest
rates over the medium term
100
90
HH Debt % Gross Disposable Income
200
175
150
225
NL
DK
CA
80
ASTL
SE
70
Percent
60
50
40
FI
30
UK
FR
Less vulnerable
More vulnerable
20
125
10
IE BE
JP
PO
0
T
100
ES
2015
2016
2017 2018
2019 2020
2021
2022
DE
US
AT
IT
75
Trackers
Over 3 yrs fixed
10 20
30 40
50
60
70 80 90 100
| Variable & up to 1 yr fixed (excl. trackers)
1-3 yrs fixed
New lending up to 1 yr fixed
Share of Adjustable-Rate Mortgages in New Mortgage Issuance
Source: OECD, ECB, FHFA
Source: Central Bank of Ireland
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
70
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