On August 26, Jin10 reported that the Bank of Portugal confirmed in a statement by email on Tuesday that the outgoing Governor of the Bank of Portugal and member of the European Central Bank, Centeno, will participate in the European Central Bank’s interest rate decision meeting on September 10-11. After completing a single term, he will be succeeded by the Chief Economist of the OECD, Álvaro Santos Pereira. The appointment of the new Governor of the Bank of Portugal will officially take effect after the parliamentary hearing on September 17. The European Central Bank is currently facing its largest personnel changes since 2019, including the turnover of new central bank governors in the Netherlands, Austria, and Portugal. As inflation has retreated from historical highs and trade tensions have weighed on the economy, the bank has lowered borrowing costs eight times over the past year.
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