(Bloomberg) -- European Central Bank Governing Council member Yannis Stournaras cautioned against premature bets on when interest-rates will be lowered, saying he only expects such a move in the middle of next year. 

“The current numbers betting on April seem a bit optimistic,” the Greek policymaker told Politico in an interview. 

ECB President Christine Lagarde’s recent remark that no move should be expected “in the next couple of quarters” means that “in the beginning of the third quarter of next year, we might,” Stournaras said. “That’s how I read it.”

Stournaras also said: 

  • An early end to PEPP reinvestments “would break a commitment — that could affect our credibility and, therefore, the effectiveness of our policies”
  • Bank of Greece sees Greek economy growing by 2.4% in 2023 and 2.5% in each of the two subsequent years
  • Preliminary estimate for 2023 Greek inflation remains at 4.3%, but is now seen falling to 3.5% in 2024 and 2.2% in 2025

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