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BNB Governor: In the Eurozone Bulgaria will maintain its conservative monetary policy

Dimitar Radev
Photo: BTA

The Bulgarian National Bank (BNB) will maintain its conservative monetary policy, central bank governor Dimitar Radev told Politico. I lead one of the more conservative central banks and we have no intention of changing this course, Radev was quoted as saying by the BNB.

Previous enlargements of the eurozone have led to economic booms followed by downturns in newly admitted countries. This is usually due to the European Central Bank's too low interest rates for low-debt, high-growth economies, which are often the newly admitted countries. While the most striking example is Greece, economic downturns have also affected countries that, like Bulgaria, had communist rule in the past with its inherent underdeveloped financial systems and regulations, Radev analyzed.

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