1. Central Bank Updates: (1) Governor Makhlouf of the Central Bank delivers speech focused on independence of central banks (2) Central Bank publishes first access to cash report
1. Governor Makhlouf of the Central Bank delivers speech focused on independence of central banks
On 18 February 2026, the Governor of the Central Bank of Ireland (“Central Bank”) delivered a speech (“Speech”) to the Blavatnik School of Government at the University of Oxford. The theme of the Speech centred around the idea of central banks as institutions with a focus on their mandates, how their responsibilities are delivered, their accountability and future challenges.
The Governor discussed issues around what he referred to as the “resurfacing of questions” around the independence of central banks, especially in advanced economies. He took this opportunity to consider institutional design, specifically why some arrangements stand the test of time and some fail, ultimately analysing the position whereby
