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ECB’s Pereira: Future Moves Will Depend on Economic Conditions

19 December 2025

ECB’s Pereira: Future Moves Will Depend on Economic Conditions
Alvaro Santos Pereira, newly appointed governor of the Banco de Portugal, at the ECB Forum on Central Banking in Sintra, Portugal on July 2, 2025. Photo by the ECB.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Álvaro Santos Pereira said on Friday that the ECB’s future interest rate moves would depend on the economy.

Pereira, who heads the Banco de Portugal, said, “Regarding whether there will be a rise or fall [in interest rates], that will depend on the economic conditions, on whether there will be shocks.”

He highlighted the robustness of the European economy and stressed that it was showing surprising growth, but also said it was “still not enough”, expressing hope about a positive effect from fiscal packages like the one from Germany.

“Growing 1.4%, 1.5% should not be our goal, it should be much higher,” he said.

 

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