Sharon Donnery: The role of central banks in housing markets

Remarks by Ms Sharon Donnery, Deputy Governor of the Central Bank of Ireland, at the NUIG Conference on the Future of Europe Event on Housing, Dublin, 9 December 2021.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and gentlemen, it is a pleasure to be with you today at this Conference on the Future of Europe event, to discuss the important topic of housing. Challenges related to the housing market, particularly around access and affordability, are well known in Ireland. These challenges are not unique to Ireland, but can also be found across Europe and further afield.

Reflecting that this event is part of the Conference on the Future of Europe, let me take a moment to explain the role of the Central Bank of Ireland in Europe. We are deeply embedded in the institutional framework of the European Union and euro area, through for example our Governor's membership of the Governing Council of the European Central Bank, our collaboration on supervision through the Single Supervisory Mechanism, and through ongoing engagement with the European Supervisory Authorities and the European Systemic Risk Board. Engaging effectively with our European colleagues and peers is key to achieving our goals, and indeed being open and engaged more generally is a theme of our recently published strategy for the coming years. We want to build trust and understanding in the role of the Central Bank through stronger engagement with the public, stakeholders and peers. And I would like to thank the organisers for giving me the opportunity to do just that today.