Skopje, 19 January 2024 (MIA) - National Bank Governor Anita Angelovska-Bezhoska told a panel at a forum in Vienna that central banks have managed to overcome one of the biggest stress tests and successfully influence the reduction of inflation rates and maintain financial stability. 

Angelovska-Bezhoska participated in the Central and Eastern European Forum organized by Euromoney - one of the leading traditional events in the field of finance. The forum brings together more than a thousand participants – central bank governors, ministers of finance, heads of financial institutions and investors. 

"Over the past two years, central banks around the world have implemented the most aligned and aggressive tightening of monetary policy in the past half a century. Changes in the monetary policy were properly set and combined with macroprudential measures, with the aim of avoiding possible adverse effects on financial stability", Angelovska-Bezhoska said addressing a panel.  

According to the Governor, this helps for inflation to decrease, financial stability to be preserved, and recession avoided. 

Angelovska-Bezhoska noted that the simultaneous handling of inflation and the maintenance of financial stability is due to two factors - the strengthened balance sheets of banks and other financial institutions and the increased range of macroprudential measures to maintain financial stability, the National Bank said. 

As part of the forum, Governor Angelovska-Bezhoska held several meetings with financial institutions and potential institutional investors. 

As regards inflation, she pointed out that both in more developed economies and in our country, survey research and market movements show that long-term inflation expectations were influenced by high inflation only temporarily, and then decreased.

Photo: National Bank