European Central Bank

The Interim Report of the Bank of Greece on Monetary Policy 2024 was submitted today to the Speaker of the Greek Parliament and the Council of Ministers.

The European Central Bank should keep cutting interest rates by small increments and there is no need to ease policy to a level that starts stimulating economic growth, Cypriot policymaker Christodoulos Patsalides has said.

Interest rates for some 400,000 housing loans concluded with a floating rate and whose installments had frozen at the levels of May 2023, when the European Central Bank's interest rate was at 3.5% and the 3-month Euribor at 3%, are now free to decline.

The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence in the eurozone's two biggest economies adding to the troubled picture.

It would be the ECB's third straight reduction as it increasingly focuses on spurring lending to boost consumer spending and business investment in the 20 countries that use the euro.

The European Central Bank is expected to continue cutting interest rates this month, ECB policymaker Yannis Stournaras said on Monday.

Europe would be better off sitting at the negotiating table with the US rather than immediately imposing countermeasures on trade tariffs, European Central Bank President Christine Lagarde said.

The vice president of the European Central Bank has said that Donald Trump's spending plans risked inflating the U.S. government's budgetary deficit and spreading worries on markets.

The United States already has a public debt ratio close to 100 percent of gross domestic product, and a spending deficit close to seven percent, Luis de Guindos said at a banking conference in Frankfurt.

Bank of Greece Governor Yannis Stournaras on Monday forecast a 0.25% reduction in European Central Bank interest rates in December and further reductions in interest rates in 2025. 

Addressing a Bloomberg conference organized in Athens, the head of Greece's central bank said that he considers a reduction of the basic interest rate of the ECB in December to be "reasonable." 

The European economy would suffer if Donald Trump enacted his pledges on tariffs and trade barriers, and this could impact European Central Bank policy, Greek central bank chief Yannis Stournaras said on Thursday.

The Association of Cyprus Banks (ACB) said on Thursday that it sees further progress in the economy, driven by the reduction of interest rates in the context of the easing of monetary policy by the European Central Bank (ECB), the ACB's President Aristidis Vourakis said, noting that ECB rate cuts are being reflected in the lending rates of the Cypriot banking system.