The Central Bank has announced the appointment of Gabriel Fagan to the role of chief economist.

Mr Fagan replaces Lars Frisell, who was appointed chief economist in February 2012 but left two years later for a role with the IMF in March 2014.

Mr Fagan, who will take up the position in October, joins the Central Bank from the European Central Bank, where he held a number of key roles. Most recently he was senior advisor in the Directorate-General Research. Prior to this, he headed up the Monetary Policy Research and Econometric Modelling Divisions.

He previously worked in the Central Bank, holding the position of economist up to 1992. He holds degrees in economics from University College Dublin and Trinity College Dublin.

Welcoming his appointment, deputy governor Stefan Gerlach, said: "Gabriel brings a significant level of experience and expertise to the role and I look forward to working closely with him.'