
Bank of Greece Governor Rules Out 13th and 14th Salaries
Regarding the European Central Bank’s next moves on interest rates, he indicated that he does not foresee significant changes in monetary policy for the time being
Regarding the European Central Bank’s next moves on interest rates, he indicated that he does not foresee significant changes in monetary policy for the time being
During the meeting, the General Council approved the bank’s audited annual accounts for the financial year ending December 31, 2024. They also decided to propose to the General Meeting of Shareholders the distribution of a statutory dividend of 0.6720 euros per share, the same as last year, totaling 13.3 million euros. Additionally, they recommended transferring 69.6 million euros to the Greek state from profits.
According to the BoG report, inflation, measured by the Harmonized Index of Consumer Prices (HICP), is expected to decrease gradually, approaching 2% by the end of 2026. However, introducing the ETS2 carbon trading system in the energy sector is anticipated to cause a temporary increase to 2.5% in 2027. Core inflation is projected to drop to 2.2% by 2027, driven by lower industrial goods and services inflation.
By the end of 2026, inflation is expected to converge towards the 2% threshold, but will remain slightly above it. However, an increase to 2.5% is expected in 2027. Core inflation is expected to drop in 2024, reaching 2.2% in 2027, mainly reflecting the decline in non-energy industrial goods inflation and to a lesser extent services inflation.
According to the Bank of Greece data, business deposits fell sharply by €2.122 billion in October 2024, while household deposits also declined, albeit more modestly, by €136 million.
Be alert regarding unusual behavior or situations (e.g., “too-good-to-be-true” offers, urgent requests for money, suspicious activity on your bank account or card).
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros