Minister for Finance, Michael Noonan is expected to recommend the appointment of a new Governor of the Central Bank to the Cabinet on Tuesday.
It has been widely reported that Robert Watt, who is currently the secretary general at the Department of Public Expenditure and Philip Lane Whately, professor of political economy at Trinity College Dublin are the two candidates who are being considered.
Mr Watt is believed to be the frontrunner to replace the outgoing Governor, Patrick Honohan.
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Volkswagen has confirmed that the headquarters of its operations in France were raided on Friday - the embattled company says that it is "co-operating fully with the authorities" there.
Martin Winterkorn, who lead the company into this crisis, and who had already stepped down as Volkswagen chief executive, has resigned from his post as chairman of Porsche - the largest shareholder in the German car company.
The Sunday Telegraph reported yesterday that some of the world's top legal teams are preparing lawsuits which could cost Volkswagen as much as €40bn.
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China's economy beat analysts' expectations in the third quarter as growth in its services sector compensated for poor performance in property and manufacturing.
Its GDP grew by 6.9% during the third quarter, down from growth of 7% in the first two quarters.
This is still the lowest growth rate recorded by the economy since 2009, but it is more than the 6.7% that a panel of analysts surveyed by Bloomberg had expected.
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Almost two-thirds of economists believe that the Federal Reserve in the US will increase interest rates before the end of 2015.
Although the US labour market's recovery remains slow, 65% of 46 economists around the world who were polled by the Financial Times say that they expect a rate hike in December.
There have been warnings that a rate increase in the US could be disastrous for emerging economies who are dependent on the US dollar.
