HOME  NEWS & MEDIA  PRESS RELEASES  ARTICLE  Remarks by Governor Gabriel Makhlouf at IBEC National Council: "Time to Act - Monetary Policy and Inflation" 12 May 2022  Speech  Good morning, it is a pleasure to be here with you this morning to discuss the Irish economy.
This reflection suggests that the cyclical pick-up will hardly bring back economic activity to a level comparable with the one prevailing before the crisis, but rather to a lower level. This means that at the steady state, after the economy has stabilised and gone back to a growth path, production potential is likely to be significantly lower than before the crisis.