Vitor Consâncio Warns that Portugal could be featured in 2023
Portugal may enter into an already increased risk next year as a result of the European Central Bank having interest rates at 0 basis points.
The warning is awaited by Vítor Constâncio. The former governor of the Bank of Portugal and the former vice-president of the European Central Bank speak of the need for limits to increase interest rates, otherwise savings could be at risk.
“I think as conditions for interest rate hikes that the ECB might not do much more than 1.5%. But obviously there is a risk, even without interest rates, there is a higher interest rate close to us”, Vitor Constâncio.
In this interview with RTP, the governor of Banco de Portugal recalled that “any interest rate records have an effect on the economy”.
The European Central Bank will increase its director jury fees by 0.5 points (50 basis points). In a statement, the ECB justifies this increase to be “in line with its strong commitment to fulfilling its mandate to maintain price stability”.
It is the first interest rate hike in 11 years and is an attempt to control the acceleration of inflation in the Eurozone.
In the released note “if the objective of data direction and in the medium term is to meet the objective of data forecast and in the medium term”.
In a press conference, the governor of the European Central Bank, Christine Lagarde, revealed that the outlook is that “inflation remains undesirably high for a while”.
Already about an admission that should not be expected, but should not expect there to be a suspicion in 2022, but there is no forecast for 2023.
In early 2021 inflation was negative, which means deflation. On the 23rd of February, inflation began to arrive and rose to 5.1% on the 23rd of February, even before the war.
On February 24 the war in Ukraine began and at the beginning of March inflation started at 5.8%, until now it reached 8.6%.