Gabriel Makhlouf, Governor of the Central Bank of Ireland, today delivered an address focusing on inflation and the labour market as part of University of Galway’s Thinking Beyond series.   Organised by the University’s J.E. Cairnes School of Business and Economics, the event took place in the Aula Maxima, Quadrangle Building.   The event offered the opportunity to provide valuable insights into the causes of the current period high inflation in Ireland and what it means for monetary policy. Following Governor Makhlouf’s address, a Q&A session was held with Alan Ahearne, Professor of Economics at University of Galway and Adviser to the Tánaiste and Minister for Foreign Affairs Micheál Martin.   Gabriel Makhlouf was appointed Governor of the Central Bank of Ireland in 2019, and is Chair of the Central Bank Commission, a member of the Governing Council of the European Central Bank, the European Systemic Risk Board, and is Ireland's Alternate Governor at the International Monetary Fund.   Prior to joining the Central Bank, he was Secretary to the New Zealand Treasury and the NZ Government's chief economic and financial adviser. Mr Makhlouf also led reviews of New Zealand's three macroeconomic pillars (monetary, financial stability and fiscal policy) and the development of a new framework for the development of economic and public policy focused on intergenerational wellbeing. In addition, Governor Makhlouf was New Zealand's Alternate Governor at the World Bank, Asian Infrastructure Investment Bank, Asian Development Bank and the European Bank for Reconstruction and Development. He was also co-chair of the Trans-Tasman Banking Council.   Professor Alan Ahearne said: “The Irish economy is operating at full employment, with the unemployment rate having dropped to record lows and many businesses reporting shortages of labour. Against this backdrop, I very much look forward to the Governor’s perspective on how developments in the labour market might affect the outlook for inflation, the cost of living and the future path of interest rates.”   Governor Makhlouf also addressed students of University of Galway’s Economics Society during his visit.    Governor Makhlouf said he welcomed the opportunity to visit University of Galway as part of the University’s Thinking Beyond: “It is always a pleasure to meet with students and discuss these important issues, and I look forward to welcoming some of them as colleagues in the future.   “If I were to sum up post-pandemic labour market dynamics in one word, it would be resilient. The slowdown in growth this year has yet to show up in employment levels, with wage growth continuing to be strong, reflecting the combined effects of a tight labour market and catch up to inflation. We will continue to closely monitor wage developments as a potential source of future inflation. The outlook for wage growth will depend in large part on how labour demand develops. Forward-looking indicators indicate that some of the strong momentum we saw during 2022/23 may begin to ease in the coming months.”     Professor Alma McCarthy, Dean of J.E. Cairnes School of Business and Economics said: “We are delighted to host Governor Makhlouf as part of our Thinking Beyond event series in the School. The series features insights from thought leaders on current issues impacting business and society across a broad array of industries and sectors.”   Ends

University of Galway also ranked in Top 50 for Sustainability   University of Galway has been named as one of the top Universities in Europe, according to the QS World University Rankings: Europe 2024. The first Europe-wide rankings have placed University of Galway 98th in Europe out of 690 institutions across 42 locations. University of Galway was also ranked in the QS European ranking’s Top 50 for Sustainability, building on the announcement that the University was named number one university in Ireland, and in the world’s top 50, for progress towards the United Nations’ Sustainable Development Goals (SDGs) by Times Higher Education (THE) Impact Rankings earlier this year. In May, the Government of Ireland designated University of Galway as a national SDG Champion, and this week the University is hosting its inaugural Sustainable Development Goals Week to increase awareness, engagement and action to help achieve the United Nations’ 17 Sustainable Development Goals. President of University of Galway Professor Ciarán Ó hÓgartaigh said: “Being ranked in the top 100 universities in Europe in these inaugural QS rankings and number one for sustainability in Ireland in THE Impact Rankings is a tremendous endorsement of the people and culture of our university. It is a reflection of the continuous effort across our University to be a university for the public good, true to our values of respect, excellence, openness and sustainability. From this place and for this place, we are determined to further enhance our international reputation and reach, while serving our students and community. I want to thank our students and staff for their hard work and commitment, and our alumni for being such outstanding ambassadors.” More information on the QS World University Rankings: Europe 2024 is available at www.topuniversities.com/europe-university-rankings.  Ends

New research has found that 40% of healthcare workers say they would worry, at least a little, about drawing blood from a person living with HIV. Findings from the report HIV-related Stigma in Healthcare Settings in Ireland found that one in five healthcare workers report using special measures they would not use with other patients. The research was led by Dr Elena Vaughan at the Health Promotion Research Centre in the University of Galway, in collaboration with HIV Ireland, with funding provided by the Irish Research Council. “A positive finding of the research is that healthcare workers do not hold negative attitudes towards people living with HIV,” said Dr Vaughan, speaking in advance of the launch. “However, a significant proportion still fear acquiring HIV through routine procedures, such as dressing wounds, and this appears to be driving stigmatising behaviours,” she said. “Where suspected exposure to HIV does occur, there is also post-exposure prophylaxis (PEP), which can prevent the virus from taking hold”, continued Ms Vaughan. “Efforts to better translate this knowledge to healthcare workers should help reduce healthcare worker anxieties and lessen stigmatising behaviours towards people living with HIV,” she added. The findings from the report were produced following a joint national survey and interviews with both healthcare workers and people living with HIV. More than 400 people took part in the research, including 298 healthcare workers and 89 people living with HIV from across Ireland. The survey, conducted in 2022, was the first of its kind to be carried out in Europe as the researchers sought to learn both from people living with HIV and those who provide them with healthcare. Of the 89 people living with HIV who took part in the survey, 24% reported having been told to come back later, made to wait, or put last in a queue when attending for appointments. More than half (54%) reported having avoided healthcare for worry about how they will be treated by healthcare workers. “The findings show how stigma experienced in healthcare settings can put people off engaging in vital care, which can have negative consequences for both individual and public health,” said Stephen O’Hare, Executive Director of HIV Ireland. “People living with HIV who are on successful courses of treatment, as the vast majority are in Ireland, are healthy and well, and have an undetectable viral load, meaning they cannot transmit the virus to others,” he added. Reflecting on Government’s own target of reducing HIV-related stigma in line with international goals, including the global Fast Track Cities initiative, Mr O’Hare added: “This report helps us identify areas where we can provide information and support to both healthcare workers and people living with HIV, so we can reduce HIV stigma in our healthcare system in line with our global commitments.” The report, which is available to download on the website of HIV Ireland, will be launched today by Ms Sinead Gibney, Chief Commissioner of Irish Human Rights and Equality Commission at its headquarters on Green Street, in Dublin.