Central bank

Advance payments from a European Union recovery fund will finance investments worth 3.3% of the country's gross domestic product (around 5.5 billion euros) this year, Bank of Greece Governor Yannis Stournaras said on Wednesday while also calling on Greek banks to make additional provisions to cover an expected new wave of nonperforming loans.

With the stabilization of capital inflows and reversal of dollarization trend in deposit/participation funds, the Turkish Central Bank will increase its reserves through auctions, the governor said on Feb. 9. 

"When the conditions are mature enough, we will share our plan for this with the public in an open and transparent manner," Naci Ağbal told a meeting with economists.

Turkish Central Bank Gov. Naci Ağbal said the economy has lost some pace recently but signs that Turks are shifting toward lira assets suggests a reversal in dollarization may come.

"We are working day and night to achieve lasting price stability," Ağbal told Reuters in an interview.

"We know we are in a difficult period."

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

Greece ought to feel confident that it will comfortably overcome the absence of European Central Bank support, analysts tell Kathimerini, while noting that Frankfurt's emergency bond-buying program (PEPP) looks set to continue for now.

The Bank of Canada has decided to maintain its key benchmark interest rate unchanged at 0.25% despite a bleak economic outlook for the next couple of months because it is confident things will get better later in the year.

Greece's biggest weapon against the pandemic-induced crisis is none other than its own cash reserves, which can both finance its support measures and signal to the market that the country has no liquidity problems.

Ljubljana – The situation on eurozone financial markets remains stable despite the challenges brought about by the Covid-19 pandemic, mainly thanks to the support of the monetary policy and optimism related to vaccination, Banka Slovenije Governor Boštjan Vasle said after Thursday’s session of the Governing Council of the European Central Bank (ECB).

The burden of new nonperforming loans on Greek banks after the pandemic crisis is expected to come to 8-10 billion euros, relatively greater compared to that faced by other European credit institutions, Bank of Greece Governor Yannis Stournaras said on Friday.

Many eurozone banks underestimate credit losses they are likely to incur from the Covid-19 pandemic and supervisors will focus on asset quality this year, European Central Bank Governing Council member Yannis Stournaras said on Friday.