Álvaro Santos Pereira Seen Taking Office as Banco de Portugal Governor on October 6

3 October 2025

By Marta Vilar – MADRID (Econostream) – Former OECD Chief Economist Álvaro Santos Pereira is set to be formally appointed today as governor of the Banco de Portugal and will assume office on Monday, October 6, according to Portuguese digital newspaper ECO.

The government is expected to confirm the appointment at today’s Council of Ministers meeting, following the favorable opinion issued by Parliament’s Finance Committee after Pereira’s nomination hearing.

Just two days ago, Pereira announced it was his final day as OECD chief economist, noting he would “soon start my new challenge as governor of the Bank of Portugal.”

Portugal’s incoming central bank governor has signaled a shift from his predecessor Mário Centeno’s dovish stance, describing himself as “definitely not a dove” during a Parliamentary hearing in late September.

Pereira said interest rates could remain unchanged for some time, noting that inflation was close to 2%. He echoed ECB President Christine Lagarde’s view that the ECB is in a “good” position, calling the current stance “the right policy.”