Central Bank of Ireland publishes Annual Report 2022 & Annual Performance Statement 2022- 2023

24 May 2023 Press Release

2019 Annual Report

The Central Bank of Ireland has today (Thursday) published its Annual Report 2022 and Annual Performance Statement 2022 – 2023.

Commenting on the publication, Governor Gabriel Makhlouf said: “Looking back on 2022, I am pleased with the progress we have made in delivering our mandate, in line with our new strategy, in what was a very challenging year.

“We faced various economic headwinds including Russia’s unjustified war against Ukraine and its people, the energy crisis, rising inflation, the state of labour markets and supply chains, and the impact of China’s approach to managing the pandemic.

“We were hit with a number of inflationary shocks over the course of the year, primarily driven by pandemic-related supply chain disruptions as well as strong demand once restrictions were lifted, along with sharp rises in energy and food prices due to Russia’s aggression.

“In dealing with such uncertainty, we have emphasised the importance of being forward-looking and agile in our approach to ensure we are capable of moving at speed when new challenges arise, working with our international counterparts and other stakeholders.

“This Annual Report & Annual Performance Statement outlines some of the Central Bank’s key achievements last year, including the completion of the Mortgage Measures Framework Review, deepening our stakeholder engagement through a more structured framework, the launch of our review of the Consumer Protection Code, concluding the tracker-related firm investigations, introducing new macroprudential rules for property funds, our work to strengthen the resilience of firms to climate-related and transition risks, and our move to hybrid working and the delivery of our integrated docklands campus.”

Governor Makhlouf concluded: “Regardless of the challenges that we face, the Central Bank will always act in the public interest. The welfare of the people as a whole is at the core of what working at the Central Bank is about.”