Portugal should reach the peak of defeat at the beginning of next year, warns Centeno – Observer
The fall from October to November is expected to fall again in December, but it should peak early next year🇧🇷 In an interview with RTPMário Centeno explained that, in the months of January and February, Portugal should reach the peak of survival.
“The offset, in October, exceeded 10% in the Euro area. In November it fell, which is the first good news. It is expected that in December it will fall again🇧🇷 Then, in January and February, some very characteristic effects of contract updates — which are done looking backwards, using past transparency —, can lead to resistance rising invisible ”, explained the governor of Banco de Portugal. And he added: “It is from that moment on that all monetary policy became more predictable.that the ECB can, more closely, make decisions that are more predictable and that is what we most need right now”.
Mentioning several times that “it is possible” that the vibrant will rise again in January 2023Mário Centeno explained, however, that the decrease in the fall between October and November “was verified precisely by the energy component, although it is very high at the moment”.
Taking into account this scenario, which is predictable — without major changes caused by the war in Ukraine — the European Central Bank reference rate (jury rates) must not exceed 3.5%🇧🇷 “Later, we should expect that, from a certain point on, this rate will converge to 2%”, added Centeno.
Mário Centeno also spoke about the book “O Governador”, which is a testimony from Carlos Costa, Governor of Banco de Portugal between 2010 and 2020🇧🇷 In the book released in November, it is indicated that Centeno — who was Minister of Finance at the time he experienced the problems at Banif — spent several days negotiating the sale of Banif with Santander, without Carlos Costa having been informed. 🇧🇷This is either a slur or a mismatch🇧🇷 As we are close to Natal, let’s just say that it is a disparity”, said Centeno to RTP. “Everything written in those two paragraphs is false,” he added.