National Bank Governor Anita Angelovska-Bezhoska highlighted the success of central banks in overcoming a significant stress test during a panel discussion at a forum in Vienna. She emphasized that central banks worldwide have effectively influenced the reduction of inflation rates and maintained financial stability.

Participating in the Central and Eastern European Forum organized by Euromoney, a prominent event in the finance sector, Angelovska-Bezhoska addressed over a thousand participants, including central bank governors, finance ministers, and leaders of financial institutions and investors.

Angelovska-Bezhoska pointed out that over the past two years, central banks globally have implemented a highly coordinated and aggressive tightening of monetary policy—a historic move. The changes in monetary policy were strategically combined with macroprudential measures to mitigate potential adverse effects on financial stability.

According to the Governor, this approach has contributed to the decrease in inflation, the preservation of financial stability, and the avoidance of recession. She attributed the successful simultaneous management of inflation and financial stability to two key factors: the reinforced balance sheets of banks and other financial institutions and the expanded use of macroprudential measures.

During the forum, Governor Angelovska-Bezhoska engaged in several meetings with financial institutions and potential institutional investors. Regarding inflation, she noted that both in more developed economies and in her country, survey research and market movements indicate that long-term inflation expectations were initially influenced by high inflation only temporarily, after which they decreased.