ECB’s Radev: No Reason to Expect Significant Changes in Interest Rates
9 January 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Dimitar Radev said on Friday that the current level of interest rates remained appropriate and that there was no reason to expect significant adjustments.
In an interview with Bulgarian weekly Capital, Radev, who heads the Bulgarian National Bank, said that the current level of interest rates “can be assessed as appropriate in light of the available information and the inflation outlook.”
The ECB Governing Council had not committed to any specific rate path, he said, adding that policy decisions were taken on a meeting-by-meeting basis and depended on incoming data and the balance of risks.
Asked whether Central and Eastern European countries should have stronger representation in Europe, particularly with regard to the ECB Vice Presidency, Radev said he did not believe a quota-based approach would be “productive.”
“The qualities of the candidate should be the leading factor,” he said.
Commenting on concerns that the next Federal Reserve Chair could be less independent, Radev said central bank independence was essential for price stability and trust in monetary policy, warning that reduced independence at the Fed would lead to higher global volatility and tighter financial conditions.
“On the other hand, there is no immediate risk to the independence of the European Central Bank,” he said. “It has a clear mandate and the full range of instruments to maintain price stability.”
Turning to the euro area, Radev said interest rates were now more closely aligned with Bulgaria’s macroeconomic and financial conditions.
“In this sense, there is no reason to expect any sharp movements or significant changes in interest rates,” he said. “We do not expect any surprises along this line.”
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