Consumer Protection: CBI Publishes Outlook Report

This week's Consumer Protection Outlook Report 2023 from the Central Bank of Ireland noted that the five key drivers of consumer risk listed below remain unchanged from last year. Rising interest rates, higher costs of living and developments in digital financial services are likely to impact these over the next year.

Risk 1: Risk of changing operational landscape

Impacted by the war in Ukraine, energy-driven inflation, the ongoing post-pandemic recovery (staff shortages and wage growth) and rising inflation, this remains a key risk. The Central Bank's November 2022 Dear CEO letter to regulated firms set out its expectations on how this risk should be managed - read our insights on that letter here: Protecting Consumers: Central Bank reminds RFSPs of its expectations.