Levente Koroes's profile photo

Levente Koroes

London

Reporter at Central Banking

Articles

  • 3 weeks ago | centralbanking.com | Levente Koroes

    The European Central Bank continued to ease policy today (June 5) with a 25 basis point cut. The bank’s deposit facility rate has thus been changed to 2%, while its main refinancing operations rate and marginal lending facility rates stand at 2.15% and 2.65%, respectively. The bank also published its revised outlook on eurozone inflation and growth figures. It now predicts that inflation will fall to 1.6% in 2026, thereby undershooting the bank’s 2% target, owing to falling energy prices and a

  • 3 weeks ago | centralbanking.com | Levente Koroes

    The European Central Bank and the European Commission have given Bulgaria the go-ahead to join the eurozone on January 1, 2026. In its convergence report released on June 4, the ECB said Bulgaria was “within reference values of the convergence criteria” and complied “with the legal requirements” to join the eurozone. In a separate report released simultaneously, the commission wrote that it considered “that Bulgaria fulfils the conditions for adopting the euro”. The country has operated a currency

  • 4 weeks ago | centralbanking.com | Levente Koroes

    Tweet Facebook LinkedIn Save this article Send to Print this page Central banks hoarded gold at a breakneck pace over the past three years. World Gold Council data shows central banks bought 1,082 tonnes of bullion in 2022, 1,037 tonnes in 2023 and 1,044 in 2024. A troy ounce of the metal now costs more than $3,000, having increased over 40% since January 2024.

  • 1 month ago | centralbanking.com | Levente Koroes

    Peter Kažimír, the governor of the National Bank of Slovakia, has been found guilty of bribing an official when he was finance minister, a special tribunal ruled today (May 29). The judge, Milan Cisarik, fined Kažimír €200,000 ($225,541). The governor can still appeal the decision, but faces a one-year prison sentence if he does not pay the fine. A judge in a lower court had previously found Kažimír guilty of bribery in April 2023 and fined him €100,000. The country’s then prime minister, Eduard

  • 1 month ago | centralbanking.com | Levente Koroes

    Central banks in countries geographically close to Russia are preparing contingency plans in the event of major failures of payments infrastructure. The National Bank of Denmark tells Central Banking that the Danish Payments Council, which is chaired by the central bank, is working on a “nationwide card payment contingency solution”. To access the system, retailers will need access to electricity, but not the internet, it says. “The goal is to ensure that all adults can pay for essential goods

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