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Tag Archives: BoG

BoG Stournaras: ECB must reduce rates four times within 2024

The European Central Bank must cut borrowing costs twice before the August summer break and another two times before the end of the year, without being influenced by the US Federal Reserve, according to ECB Governing Council member and governor of the Bank of Greece (BoG) Yannis Stournaras. “It is …

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Property prices surged in 2023, Bank of Greece reports

Residential property prices in Greece continued to increase at an accelerated rate in 2023, according to a Bank of Greece announcement on Tuesday. According to provisional data, the central bank said, apartment prices increased at an average annual rate of 13.4% in 2023, compared with an average increase of 11.9% …

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“Greece will get investment grade after elections,” says BoG Stournaras

The Greek economy will be upgraded by credit rating agencies to investment-grade level following the national elections on June 25, Bank of Greece Governor Yannis Stournaras asserted on Monday. Speaking at a conference organized in Athens by The Economist and the British Hellenic Chamber of Commerce on “The Global Economy …

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BoG: Major increase in card fraud worth €16.2 million

The Bank of Greece has has seen a major increase in electronic fraud in Greece during 2022, as transactions with payment cards worth 16.2 million euros  compared to 13.4 million euros in 2021 an increase by 21% compared to a year earlier. Attacks on cardholders via e-mails, SMS and phones …

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Greece’s current account deficit down by €3 billion euros Jan-Feb

The Greek current account deficit fell by 3.0 billion euros in the January-February period this year compared with the corresponding period in 2022 to stand at 1.5 billion, the Bank of Greece said on Thursday. More specifically, the central bank attributed this development chiefly to an improvement in the balance …

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ECB must keep buying bonds to cushion Ukraine fallout, says Bank of Greece governor

The European Central Bank (ECB) should continue its bond-buying stimulus programme at least until the end of the year and keep it open-ended to cushion the fallout from any conflict in Ukraine, ECB policymaker Yannis Stournaras told Reuters. He was the first ECB official to spell out how events in …

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Greece’s Central banker calls for further tax reforms

Reforming the tax system is imperative to avoid upsetting fiscal balance in the post-pandemic period, Bank of Greece’s governor Yannis Stournaras said on Wednesday, addressing the Academy of Taxation and Accounting of the European Organization of Civil Law. In his speech, the central banker said it is necessary to change …

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Bank of Greece report: Banks credit and Deposits September 2019

In September 2019, the annual growth rate of total credit extended to the domestic economy stood at -0.9% from -0.7% in the previous month, while the monthly net flow was positive at €182 million, compared with a negative net flow of €555 million in the previous month. The annual growth …

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Stournaras: SYRIZA asked Russia to print Drachmas in 2015

We have a lovely expression in Greek: περσινά ξινά σταφύλια literally translated into “last year’s sour grapes.” We use it to declare that something we hear or learn we have been known already. The governor of Bank of Greece, Yannis Stournaras, apparently has run out of points of criticism to …

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Bank of Greece seeks full lifting of capital controls in early autumn

The Bank of Greece has recommended to the government that it fully dismantle capital controls in September or October, a bold move to swiftly reverse emergency steps taken four years ago to protect the country’s banks during its financial crisis, Reuters report citing a senior official in an exclusive interview. …

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