Signs of an economic acceleration? What's wrong with 4 - 5% interest rates? Zero rates were caused by crisis - we need a dose of normal

A packed podcast!For the past year or so we have been noticing weakness in Irish exports, particularly pharmaceuticals and one or two other key areas. Falling exports were a big driver of the Irish 'recession' last year.At least part of this was Covid related and the fall represented payback for the massive boost arising from exports of vaccine and other health related products during the pandemic. It's only one month's data, so shouldn't be over-interpreted, but latest numbers hint at two things. First, normalisation of exports may be close. Second, as the quintessential small open economy, Ireland is a bell-weather for the world economy. Maybe there is a hint of global trade and global growth picking up.Maybe the U.S. won’t cut rates at all this year?Irish inflation continues its fall.Oil prices edging up again. China - the one economy where we cannot talk about a positive growth surprise.interest rates at current levels are maybe the new normal?Macron’e Ukrainian epiphanyJim disappears down the crypto rabbit hole Happy St Patrick’s day! Ireland’s soft power is worth billions. Only idiots begrudge its exercise. Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns. Hosted on Acast. See acast.com/privacy for more information.