Energy disruptions lift Irish inflation forecast to 3.5 percent
The Central Bank of Ireland has raised its domestic inflation forecast to 3.5 percent for 2026, citing Middle East shipping disruptions and energy costs. In an address to lawmakers on September 15, 2026, the Governor also addressed EU prospectus approvals and fitness regime reforms.
Disruptions lift prices to 3.5 percent
Higher energy prices linked to conflict in the Middle East and Strait of Hormuz disruptions have pushed Irish inflation projections to 3.5 percent for 2026 and 2.9 percent in 2027.
Modified Domestic Demand growth is moderating as energy costs weigh on household incomes, while multinational investment in artificial intelligence offers offset.
Regarding the Israeli Bond Programme, the Central Bank stressed that EU Prospectus Regulation operates strictly as a disclosure regime rather than an endorsement.
The bank is legally mandated to approve prospectuses meeting completeness and consistency standards, noting that no European Union sanctions currently restrict Israeli debt issuance.
Thirteen notices and court scrutiny
Addressing the statutory fitness and probity regime, the Central Bank reviewed its supervisory enforcement after the High Court declined to confirm a one-year prohibition notice.
The court found procedural fairness was not observed in the case, prompting administrative changes.
Since 2022, statutory amendments ensure unagreed prohibitions do not take effect prior to court confirmation.
The regulator has processed 2,684 senior approvals over the past year across 22,500 active roles.
Strict mandates leave little cover
Strict adherence to statutory mandates shields the central bank from political pressure over foreign prospectuses.
Yet the High Court rejection of its prohibition notice exposes lingering vulnerabilities in supervisory due process.
Regulators cannot defend legal integrity on one front while compromising procedural fairness on another.