BoG Gov signals support for hike in minimum monthly wage; says inflation will ease in mid 2022

Greek central banker Yannis Stournaras on Tuesday signaled his support for a possible increase in the country’s minimal monthly wage, saying the demand was “fair”.

In an interview with Athens-based broadcaster Mega, the Bank of Greece (BoG) governor said he was participating in relevant discussions over the prospect.

He said that based on current figures, 27 percent of wage-earners in Greece are paid with the minimum monthly wage.

Stournaras also repeated central bank forecasts of a decline in the inflation rate, beginning in mid-2022.

“The pandemic increased inflation because it created obstacles in production. When the pandemic will leave, which appears to be leaving, then these obstacles will be lifted and inflation will begin to decrease,” he said.

As such, he opined, there is no need for a stricter monetary policy in Europe.