Influential Bank of Greece (BoG) Gov. Yannis Stournaras predicted rising interest rates in the eurozone this year, and until 2025, in fact, citing the ECB’s stated target of containing inflationary pressures.
In an interview given to the Athens financial daily “Imerissia”, which was published on Wednesday, Stournaras also directly referred to the ongoing campaign season in Greece, as a general election is scheduled for May 21.
Specifically, Stournaras, a former finance minister himself, said there’s no “fiscal space” in Greek state finances to allow for implementation of political parties’ pre-election spending pledges.
Asked about a coveted return of Greece debt to an investment grade rating, Stournaras said international ratings firms will await a new government’s policy statements.
Echoing previous comments, the Greek central banker said a cycle of rising interest rates rises is nearing its end, but not yet there.
“We can’t say how many (more interest rate) hikes will be made. This will depend on forecasts for inflation, economic growth and financial conditions. As things stand now, and if assuming nothing dramatic lies ahead, we can say that within 2023 interest rate hikes will cease,” Stournaras said.
Finally, he also again emphasized that Greece’s systemic banks are well capitalized, post good liquidity rates, are under strict supervision and endure strenuous and repeated stress tests.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
AEGEAN Airlines Adds Extra Flights to Santorini Amid Ongoing Seismic Activity
As reported, the Blue Star Chios ferry, departed from the Athinios port for Athens, fully booked, in the early hours of Monday
Quakes Rattle Santorini Overnight, Authorities Say Island is Safe
Over the past 24 hours, hundreds of quakes struck between Santorini and Amorgos and continued overnight. Greek authorities say the island is safe and all measures are precautionary
Greek Farmers Protest for Renewed Greece-Bulgaria Water Deal
Farmers are demanding that Greece renews an expired Greece-Bulgaria water deal to ensure water continues flowing to farms in the Evros region
Santorini, Amorgos Announce Evacuation Points Following Tremors
Santorini, Amorgos, and nearby islands have been rocked by over 200 tremors in the past two days, including a quake measuring 4.9 on the Richter scale in Santorini on Sunday evening
Dozens of Earthquakes Near Santorini Force School Closures
Scientists say the earthquakes are attributed to a submarine fault near Santorini, not volcanic activity.
Cycling Tourism is a Booming Billion-Euro Industry. Will Greece Keep Missing out?
With an estimated value of €138 billion, cycling is one of the world's top 10 fastest-growing tourism activities. Yet, Greece struggles to shift gears and establish itself as a leader in this thriving sector of sustainable tourism.
Tempi: Rail Accident Agency Report to be Unveiled on Feb. 27
Agency head: 'We will highlight errors and omissions, working with absolute independence'
Athens welcomes UNFICYP Mandate Renewal
Greece, as a member of the Security Council for the 2025-2026 term, coordinated with the Republic of Cyprus to exert consistent efforts during negotiations for a renewal of the mandate
GPO Poll: Parties’ Support Declining
Ruling center-right ND is shown with 25.1% of respondents’ preferences, down from 26.7% in the same poll last month; PASOK down to 16.4%
N. Greece City Offers Couples 1,000€ New Baby Bonus
The decision was taken by the municipal council of Naousa, in western Macedonia province
