Unlike some developed economies where interest rates are around zero, in our region, central bank interest rates continue to be positive, which depending on the specific circumstances of each economy indicates that the monetary policy space in these countries is likely to be larger, informed the Governor of the National Bank, Anita Angelovska-Bezhoska, who participated in the Forum of Central and Eastern Europe organized by Euromoney in Vienna, Austria.

This annual event is regularly attended by more than a thousand participants – central bank governors, finance ministers, heads of financial institutions and investors.

At the first panel discussion on monetary policy, she focused on the current and future monetary policy setting in the region and the country, the Europeanization and the role of the EU accession process in building institutional capacity.

Angelovska-Bezhoska also spoke about the setting of extremely low central bank interest rates and the expectations for continued stimulus monetary policy in developed countries, given the low inflation and expected growth slowdown. She stressed that given the strong trade and financial ties with the eurozone, further easing by the European Central Bank is one of the factors that could contribute to further easing monetary policy and central banks in the region. She also emphasized the monetary policy of our central bank, which has been continuously loosening in the past few years, which contributes to the reduction of the cost of financing the corporate sector and households, as well as the growth of lending activity.

Regarding the issue of Euroisation, the Governor stated that it is present in our country, but it is lower compared to other countries in the region.