“Gold constitutes another asset of the Bank of Greece (BoG), which enables it to respond to different conditions and requirements. For citizens, it is no longer a means of transactions, but a refuge in conditions of uncertainty and crisis. For this reason, the demand for gold skyrocketed during the period of the great financial crisis,” Bank of Greece governor, Yannis Stournaras, said in his address during the inauguration of the renovated Central Treasury of the Bank of Greece, in the presence of the President of the Republic, Katerina Sakellaropoulou, and Prime Minister Kyriakos Mitsotakis.
Today, 47% of the gold owned by our country is held in Greece, with the remainder distributed among the United States (29%), Britain (20%), and Switzerland (4%).
“In the current climate, the Bank of Greece continues to carry out the traditional activity of buying and selling gold coins and managing monetary gold, which is part of the country’s foreign exchange reserves,” the governor of the Bank of Greece stressed.
Stournaras also left open the possibility of a reduction in bank interest rates during the current year.
“Already, for several months, there has been a significant de-escalation of inflation worldwide and, in 2024, it is expected that the reduction of the key interest rates of the central banks will also begin,” the governor of the Bank of Greece emphasized.
