Next October in Athens the meeting of the European Central Bank

In Athens, the meeting of the board of directors of the European Central Bank in October 2023 and the usual press conference of its president Christine Lagarde are to be held.

At this event, among others, the governor of the Bank of Greece, Giannis Stournaras, was mentioned in the New Year’s message he addressed to the employees.

Referring to the ECB’s “battle” to deal with inflation, the Governor of the Central Bank described as encouraging the fact that “for the time being, there is no price-wage spiral moving away from the 2% target, nor a loosening of medium-long-term inflationary expectations from this goal. “This gives us hope and courage to continue the anti-inflationary policy without interest rate hikes that would cause a deep recession. And we certainly do not stop hoping and seeking the final cessation of this ongoing uncertainty with the most effective means available: the end of this bloody war,” he said.

He stressed, however, that interest rates should rise further until the recent positive signs of easing inflationary pressures translate into certainty of approaching the 2% target in the medium term. He also recognized that the fiscal policy should assume a cost of supporting vulnerable citizens, with measures that will be targeted at them, will be temporary and not permanent in nature.

He also reminded that in this context, under the current pre-election conditions, “the Bank of Greece, in the last Monetary Policy Report, formulated the recommendation for the coordination and understanding of the political forces, in order to implement the basic commitments of the economic policy, mainly in what concerns the return to primary surpluses such as to ensure the long-term sustainability of the public debt and to preserve the important achievements of the Greek economy in the last decade with the main objective, I would characterize it as national, to upgrade the bonds of the Greek Government to investment grade during current year”.

Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.