ECB Interest Rate to Drop to 2% by Autumn, Says Bank of Greece Governor

Bank of Greece Governor Yannis Stournaras announced on Thursday that the European Central Bank's (ECB) key interest rate will decrease to 2% by autumn, down from the current 3%, CE Report quotes Athens-Macedonian

In an interview with SKAI radio, Stournaras addressed concerns about bank commissions, explaining that fees extend beyond transfers and ATM withdrawals, encompassing areas like investment banking and portfolio management. "These are business operation fees that cannot be interfered with," he stated, emphasizing that the measures in place are fair and balanced.

Stournaras also highlighted the recent profitability of banks, attributing much of their success to the ECB's monetary policies. "While banks must remain profitable, it's worth noting that in previous years, they faced significant losses," he said.