Ireland's central bank warned on Friday that Brexit is not the only risk to...
DUBLIN - Ireland’s central bank warned on Friday that Brexit is not the only risk to the Irish economy, with rising wages and a diminishing supply of available labor possible problems at a time when the international economic outlook has weakened.
“We expect growth to moderate in 2019 and 2020,” said Mark Cassidy, the central bank’s Director of Economics and Statistics. As the economy approaches full employment and spare capacity in the labor market shrinks, the central bank expects wages to increase by 3.6 percent this year and 3.7 percent next year.
Modeling by the bank suggests a disorderly, no-deal Brexit would knock as much as 4 percentage points off the Irish economy’s growth rate in its first full year and by more than 6 percentage points over a decade. [nL8N1ZO6K2]
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