ECB hikes rates, Dublin airport fourth best in Europe, and lottery sales top €1bn for first time

The European Central Bank raised its interest rates for the first time in more than a decade yesterday, with the result that about 300,000 Irish tracker mortgage customers will face a hike of 0.5 per cent in their rates from next month. Joe Brennan has the details.

While trackers are set to rise, it looks like Irish banks will hold off on hiking their other mortgage rates, at least for now. Joe Brennan rounds up reaction from the various Irish lenders.

In our Agenda feature, Cliff Taylor explains why the ECB hiked its rate by 0.5 per cent, rather than the quarter of a percentage point rise that had looked on the cards for some weeks. He also looks at where rates might go from here and if the ECB’s move will be enough to stave off recession in the euro zone.

Bizarrely, given all the disruptions of late, Dublin Airport was the fourth best in Europe for limiting cancellations and delays. This was despite recent high-profile issues with staff shortages at security and baggage check-in, according to a recent snapshot poll. Hubs including Amsterdam and Brussels are on a list of the region’s worst performers. Barry O’Halloran reports.

Pension auto-enrolment is a welcome development – but workers should ensure they aren’t missing a better option

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Shameless comebacks show we are in the age of chutzpah

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‘Whenever I can save time by spending money, I usually do and I never regret it’

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Big pay rise for Smith & Nephew chief shows US-style packages have arrived in Europe

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National Lottery of Ireland ticket sales surpassed €1 billion in 2021, rising 14.7 per cent to €1.053 billion, the full-year financial results of operator Premier Lotteries Ireland (PLI) show. Laura Slattery goes through the numbers.

Building costs are rising at their fastest pace in two decades as energy and materials come under increased pressure, a new report warns. Barry O’Halloran reports.

Paying higher energy prices will eat up most, if not all, of the growth in the Irish economy this year, according to our columnist John FitzGerald who argues that developing indigenous energy sources, like onshore and offshore wind, will be critical to mitigating the impact of the higher sums being paid to foreign energy providers.

In Wild Geese, Dubliner and Osaka resident Greg Timmons relates how things are compact and efficient in Japan, just as you would expect.

In World of Work, learning to reframe uncertainty can turn it into something positive, according to a new book. Olive Keogh tells the story.

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