Vasileios Madouros: Corporate performance and resilience in a high inflation environment

Remarks by Mr Vasileios Madouros, Deputy Governor of the Central Bank of Ireland, at the joint Central Bank of Ireland, European Investment Bank, ESRI conference, Dublin, 29 June 2023. 

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

Good afternoon and thank you for joining us today at the Central Bank of Ireland.

This is the third year running that we have worked with the ESRI and the European Investment Bank to host this conference. 

Let me take this opportunity to thank both institutions for their continued collaboration. 

While we each have different mandates and bring different perspectives, one thing unites us: serving the public good.

We do this partly through the analysis and research that our institutions conduct, which are a critical enabler of good policymaking. 

Of course, analytical insights need to be complemented by insights from practical experience. 

Which is why a core element of the Central Bank's strategy is to be open and engaged. 

Today's event is a good example of that. 

It aims to bring together researchers, policymakers and practitioners to help advance our collective understanding of the economy and the challenges and opportunities faced by the corporate sector.

The economic backdrop

Our event today relates to economic resilience, with a particular focus on the domestic business sector. 

But, before focusing specifically on companies, let me share our latest assessment of the state of the Irish economy. 

The global and Irish economies have been hit by a number of interlocking shocks in recent years, including the pandemic, Russia's war against Ukraine and the ensuing energy crisis.