European Central Bank
Inflation seen easing to 3% in November
The European Union-harmonized inflation rate in Greece fell to 3% in November, according to Eurostat's preliminary data, after the jump of 3.8% it had made in October.
In the eurozone, inflation continued to slow closer to the ECB's 2% target, at a faster pace than expected. Inflation in the bloc hit a two-year low of 2.4% in November, from 2.9% in October.
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Rates boost local holiday pads
The sharp and large increase in the European Central Bank interest rates is developing into a strategic advantage for the Greek holiday home market: It has made potential buyers focus on markets such as Greece, where it is still possible to acquire a holiday home without needing a bank loan.
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New ECB rating agency Scope puts greater weight on eurozone protection mechanisms
Scope, Europe's first ECB-approved credit ratings agency, promises to put more weight on the eurozone's improved ability to navigate crises although it has concerns about Italy and France and warns the Dutch election result could trouble its coveted triple-A grade.
National Bank sees earnings climb in Jan-Sept
National Bank, Greece's second-largest lender by market value, on Tuesday reported higher net earnings in the first nine months of 2023 compared with the same period a year ago as net interest income rose.
NBG, 40% owned by the country's HFSF bank rescue fund, said net earnings reached 791 million euros from €680 million in the first nine months of 2022.
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‘Two moments’ when threat of Grexit felt close
A few years ago, as the head of the International Monetary Fund, it would not have been easy for her to walk in central Athens, when Greece was in the midst of its government debt crisis. Today, a few days after her visit to Athens, Christine Lagarde, today head of the European Central Bank, declares that she is impressed by the "transformation" that the country has undergone.
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Worrying: Bankers Predict Rising Interest Rates for Bulgarian Households
Representatives from several banks attending the "My Money" Expo have forecasted an increase in interest rates on household loans within the next six to twelve months. While this increase has already affected company loans, it is yet to impact households, according to Tatiana Ivanova, Executive Director of "Digitalization, Data, and Operations" at UBB.
Inflation seen rebounding
Eurostat estimated on Tuesday that European Union-harmonized inflation rose considerably in October to reach 3.9%, which is mainly attributed to food price hikes after a few weeks of natural disasters that mainly struck central Greece.
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Global lockdowns minimize COVID costs, study finds
A recent study conducted by a team of Turkish economists has illuminated the pivotal role of globally coordinated full lockdowns in mitigating both economic losses and saving lives during the COVID-19 crisis.
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Lagarde: Greek economy and people an example of resilience
European Central Bank (ECB) President Christine Lagarde on Wednesday praised the return of Greece's economy to health and the resilience of the Greeks following its debt crisis more than ten years ago.
ECB to hold Governing Council meeting in Athens
The Governing Council of the European Central Bank is meeting on Wednesday and Thursday at the Bank of Greece, for the first time since 2008.
Its president, Christine Lagarde (pictured), has had the opportunity to get a taste of Athens and the Greeks in a different climate than what prevailed during the difficult years of the debt crisis.
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