Rumour: Honohan of Central bank to resign?

Sorry for blank reply - sensitive Kindle Fire touchscreen!
At Honohan' s level in the Civil Service, contracts are usually for 7 year period, with option to roll on depending on circumstances.
 
Good riddance if true...the architect of the 20% deposit rule will not be missed by the squeezed middle.
 
Gordon Gekko said:
Good riddance if true...the architect of the 20% deposit rule will not be missed by the squeezed middle.
Click to expand...
True all right.

The Central Bank has confirmed that Governor Patrick Honohan will tomorrow announce his plans to retire by the end of the year.

His retirement comes a year before his seven-year term as Governor was due to end in September 2016.

A spokesperson for the Central Bank said Minister for Finance Michael Noonan has been made aware of Mr Honohan's plans.

http://www.rte.ie/news/2015/0430/697930-honohan/
 
Will be sorely missed - sad day for those not tainted by vested interest in traditional fashion.
 
Gordon Gekko said:
Good riddance if true...the architect of the 20% deposit rule will not be missed by the squeezed middle.
Click to expand...
Maybe Pat Neary can be tempted back in from his retirement, we learned today he's the man who told BOI he couldn't interfere in the market by limiting mortgages to 90% LTV. Is that the kind of regulation you're looking for?

Anyway Honohan was superb. If only we'd more like him.
 
Gordon Gekko said:
Good riddance if true...the architect of the 20% deposit rule will not be missed by the squeezed middle.
Click to expand...
As 1 of the 'squeezed middle', I mos certainly don't echo those sentiments. He's saved a lot of people from themselves right now, just a pity he didn't bring these rules in 5 years ago....the squeezed middle might'nt have needed those big mortgages that they do now!
 
Delboy said:
As 1 of the 'squeezed middle', I mos certainly don't echo those sentiments. He's saved a lot of people from themselves right now, just a pity he didn't bring these rules in 5 years ago....the squeezed middle might'nt have needed those big mortgages that they do now!
Click to expand...

Prices are still rising. The issue was not and is not LTVs. It's supply.
Honohan is the classic academic in an ivory tower.
 
Prices fell in Jan and Feb, rose in March. Lets see where they are in 6 months time....supply on myhome for Dublin is up nearly 25% on this time last year. The full impact of the new rules haven't kicked in yet

Honohan can't influence supply...he can't force Builders to start pouring cement. But he can try and do something about prices and after a 25% rise in Dublin in 2014 alone, 'something' was badly needed

edit- supply in Dublin is up 61% since this time last year...,5120 places currentlyfor sale v's 3k odd on 1st May 14
 
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