The Governor of the Banco de Portugal is no longer bound by a voluntary commitment to abstain from public comments regarding the European Central Bank and interest rate policy. European authorities have confirmed no objections to current or future candidates for leadership positions at the ECB.
This update is from Bica
Your quick shot of what's changing in Portugal and affecting your status, your home, your money, and whatever might disrupt your day. Short and clear updates, gathered from Portuguese sources.
It's free, with no signup and no app to download.
Read today’s briefing
The European Central Bank projects negotiated wages in the eurozone will grow by 2.7% in the second half of 2026, peaking at 2.8% in the first half of 2027 before slowing to 2.4% in the third quarter. Given inflation reached 4% in October, driven largely by a 20.8% rise in energy costs, the ECB signaled that further interest rate increases may be decided at its next monetary policy meeting in December.
The European Central Bank (ECB) decided to maintain its benchmark deposit interest rate at 2.5% on 29 October. The Governing Council noted that while energy prices continue to drive inflation risks, they are taking a data-dependent, meeting-by-meeting approach to future adjustments, with analysts suggesting potential rate hikes remain possible in December or early 2027.
With inflation rising but concerns mounting over debt sustainability in the Eurozone, the European Central Bank (ECB) is expected to pause interest rate hikes during its meeting this Thursday, 29 October, to assess economic stability.