Monetary policy will remain restrictive for some time, said Bank of Greece Governor Yannis Stournaras, speaking at the Brussels Hellenic Network, Argo, in honour of the new Members of the European Parliament of Greece and Cyprus on July 10.

As he pointed out, the challenge for the coming period is to ensure that inflation continues to decline and reaches our target on time, while at the same time growth rates are boosted, reaching sustainable levels that guarantee full employment.

According to the June projections, inflation is expected to be below target for all quarters in 2026.

He did not comment on possible further rate cuts in the second half of the year, noting that "we have to wait and see how the data evolves, and, secondly, even with further rate cuts, monetary policy will remain restrictive."