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Extra.ie
29-05-2025
- Climate
- Extra.ie
Met Eireann confirms heatwave return date following dramatic weather washout
Irish sun seekers fret not, according to Met Eireann we could be enjoying yet another heatwave very soon. After weeks of ongoing sunshine and scorching temperatures, Ireland's weather has sadly taken a turn for the worst ahead of the June bank holiday. While the upcoming forecast may look particularly soggy for the month of June, all hope is not lost with warmer days seemingly ahead. Irish sun seekers fret not, according to Met Eireann we could be enjoying yet another heatwave very soon. Long-range weather maps are showing a possible surge of heat building over Ireland from early June. According to the latest data, temperatures could climb during the second week of June, peaking on Tuesday, June 10 with potential highs of 25C. Met Eireann has also confirmed these projections with its official long-range forecast. After weeks of ongoing sunshine and scorching temperatures, Ireland's weather has sadly taken a turn for the worst ahead of the June bank holiday. Pic: Daniel Leal/AFP via Getty Images The national forecaster is predicting high pressure from Monday, June 9, bringing 'more settled and warmer conditions' that are expected to last up until at least Sunday, June 22. They said: 'Monday, June 9 to Sunday, June 15 is showing a signal for higher pressure over Ireland. This will bring more settled and warmer conditions with temperatures increasing slightly above-average across the country. It will be drier also with rainfall amounts below-average nationwide. 'Confidence is lower for Monday, June 16 to Sunday, June 22, but current indications suggest that high pressure will remain the dominant feature of our weather. Temperatures will be slightly higher than normal, and precipitation is expected to be lower-than-average.' While the upcoming forecast may look particularly soggy for the month of June, all hope is not lost with warmer days seemingly ahead. The national forecaster further explained the long range system, adding: 'The extended range forecast can at times provide an insight into weather patterns, however they have generally low skill because forecasts beyond one week become increasingly uncertain due to the chaotic nature of the atmosphere.' However prior to sunnier conditions, we will have to put up with a bit of rain, with Met Eireann continuing: 'Friday will be a largely dry day for many with variable cloud and sunshine. Any residual rain and drizzle in the south and southeast will soon clear in the morning, with just well scattered showers following for the rest of the day. Highest temperatures of 16C to 21C . Moderate southwest to west winds, initially fresh to strong near the northwest coast, will ease light to moderate as the day goes on. 'Mainly dry and bright to begin on Saturday, but a spell of rain, possibly heavy, will soon spread from the west through the morning and afternoon. The rain will clear into the Irish Sea in the afternoon, and will be followed by sunshine and showers, some heavy in the northwest, with the chance of thunder. Highest temperatures of 15C to 20C in moderate to fresh southwest winds, but becoming very windy later near Atlantic coasts, with strong to gale force and gusty southwest winds developing in the evening. 'Breezy on Sunday with a mix of sunshine and showers, some heavy and possibly thundery. Temperatures will be a little lower than the previous couple of days with highest values of 13C to 17C and it'll be breezy or rather windy with moderate to fresh and gusty westerly winds, strong at times near coasts.'
Reuters
04-02-2025
- Business
- Reuters
Brazil 2025 public debt seen rising by double-digits, rate-linked bonds soar
BRASILIA, Feb 4 (Reuters) - Brazil's Treasury on Tuesday estimated that federal public debt will rise up to 16% this year, as bonds linked to the benchmark interest rate potentially exceed half of total debt, exposing them to the central bank's aggressive push to tame inflation and making it costlier for the country to service its debts. The Treasury's annual financing plan sees debt ranging from 8.1 trillion reais to 8.5 trillion reais ($1.47 trillion) in 2025, up from the 7.316 trillion reais recorded in December. It also stressed the continued strategy of issuing conventional and sustainable bonds to provide a reference for the Brazilian sovereign yield curve, adding it "may use external liability management operations to enhance the efficiency of the yield curve." The Treasury estimated that the share of debt linked to the benchmark Selic interest rate will account for 48% to 52% of the total this year, after rising to 46.3% in 2024. These floating-rate bonds, known as LFTs, reached their highest share in 20 years last year, amid intense volatility from shifting interest rate expectations in the U.S. and concerns over Brazil's growing indebtedness. According to Treasury Secretary Rogerio Ceron, the strategy of increasing the share of floating-rate bonds aligns with market appetite. "There is no point in working against market demand," he said at the press conference. Such securities are typically more appealing to investors during periods of heightened risk perception but leave debt costs vulnerable to sharp increases when interest rates go up. Last week, Brazil's central bank raised rates by 100 basis points to reach 13.25% while signaling a matching hike in March to curb inflation. Prices in Latin America's largest economy are currently pressured by robust economic activity and a weaker currency amid lingering fiscal woes and a challenging global backdrop. Each rate increase is immediately passed on to servicing costs of almost half of Brazil's hefty debt burden. The gross debt of the South American nation closed 2024 at 76.1% of gross domestic product (GDP), a level deemed high among emerging market peers. The Treasury maintained its long-term goal of reducing the share of LFTs in total debt to 23% by 2035, but Daniel Leal, the Treasury's deputy secretary for public debt, said that reaching this optimal level within a ten-year horizon may not be feasible. "This may take a little longer," he said, adding he did not believe the increased share of these bonds in total debt was hindering the transmission of monetary policy. Leal also highlighted that the Treasury began the year with a much more balanced debt management approach, noting that January auctions were "quite successful," with volumes significantly higher than those seen immediately before. ($1 = 5.7669 reais)
