Bank of Greece chief says ECB rate to drop to 2%

Bank of Greece Governor Yannis Stournaras reiterated on Thursday that the European Central Bank’s (ECB) key interest rate will fall to 2% in the autumn, from the current 3%. 

In an interview with Skai radio, he also noted that banks have been making profits lately. 

“Of course, they must have profits and, to a very large extent, their profits are the result of the monetary policy that we are pursuing at the European Central Bank. Don’t forget in previous years they also had big losses,” Stournaras said.