Ireland’s open economy most at risk to shift in supply chains, Central Bank governor warns

Gabriel Makhlouf said central banks could be forced to raise interest rates faster and further in future if ‘re-shoring’ pushes up the price of computer chips, batteries or solar panels

Central Bank Governor Gabriel Makhlouf. Photo: Steve Humphreys

Sarah Collins

An EU and US drive to produce key goods closer to home and cut dependence on far away economies including China could push up inflation and put Ireland’s economy at risk, the Central Bank governor has warned.