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The ECB interest rates on the deposit facility, the main refinancing operations and the marginal lending facility are 3.25%, 3.40% and 3.65%, respectively, as of October 2024

The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).

The Governing Council of the European Central Bank (ECB) decided to cut interest rates by 25 basis points for a third consecutive time.

He further added that inflation could be on track to meet ECB's 2% target in the first half of 2025, stressing the need for policymakers to reduce the "highly restrictive" interest rates.

60 % of the companies admitted that attracting skilled employees has become more difficult due to wage levels.

Through the issuance of new bonds recently, the banks have significantly improved their capital positions while at the same time reducing the average cost of servicing their obligations.

In 2024, many businesses, especially small ones, were struggling with increased borrowing costs, making debt servicing a nightmare.

Greek banks received ECB approval to resume dividend payments after 16 years and a painful debt crisis.

The Greek central banker, considered as among the “doves” on the European Central Bank's governing council, also said the latter must differentiate its positions from the FED

Greece's central banker also said high market prices in the country bely a problem with competitiveness

The Bank of Greece Governor says the ECB should not be swayed by the US Federal Reserve and must cut rates at least twice before summer

This is the fourth consecutive time Europe’s central bank has kept the interest rates unchanged after 10 increases in a row between July 2022 and September 2023

He added: Greece's accession to the euro-zone was the right decision

He added that recent data shows that the goal to keep inflation at 2% will be reached in the autumn

The ECB noted that the authenticity of euro banknotes can be verified using the “feel, look, and tilt” method. In 2023, just 16 counterfeits were detected per million genuine banknotes in circulation, which is one of the smallest proportions since the introduction of euro banknotes

In this context, they emphasize that those who do not intend to explore their luck in alternative forms of savings/investment over the next two years and have surplus liquidity would do well to hurry and lock in their interest rates until 2026.

A positive reversal was recorded after the end of the COVID pandemic lockdowns as Greek households witnessed a substantial rise in wealth to €798.8 billion in the 2nd quarter of 2023, with property largely accounting for the wealth uptick

Average interest rates for consumer loans, which fluctuated between 4.64% and 5.69% in early 2022, have climbed to 7.28% and 8.59%, according to the latest European Central Bank (ECB) figures