Stournaras said that Greece was close to regaining an investment grade rating, which would signal that the country has returned to normality. He said that the new government which will take over after the elections should implement the appropriate fiscal policy. "From a fiscal point of view, we 're still away from a primary (budget) surplus, which is necessary for the long-term debt viability," he said. (Reporting by Angeliki Koutantou; Editing by Andrew Heavens and Bernadette Baum)
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) (Adds quotes, Greece)
ATHENS, May 10 (Reuters) - The ECB's monetary tightening
cycle will end this year if there are no dramatic changes, Greek
central bank chief Yannis Stournaras told a news website in an
interview published on Wednesday.
Stournaras, considered a dove on the ECB's 26-member
Governing Council, told imerisia.gr that "as things stand at the
moment, and if nothing changes dramatically, we can say that
rate hikes will end in 2023."
"Rates will remain where they are today or higher for some
time until inflation comes very close to the 2% target," he
added.
Greece, the euro zone's most indebted nation, is heading to
elections on May 21 and the ballot is not expected to produce an
outright winner which may lead to a second vote, according to
recent polls.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.