By David Barwick – FRANKFURT (Econostream) – Lithuania’s parliament on Thursday reappointed European Central Bank Governing Council member Gediminas Šimkus as chair of the board of the Bank of Lithuania for a second term.

In a secret ballot, 85 lawmakers voted in favor, three voted against, five abstained, and three ballots were spoiled.

The Seimas appoints the central bank chair for a five-year term on the nomination of the president.

Šimkus took office in April 2021 and is set to begin a second five-year term when his current mandate expires in early April.

Lithuanian President Gitanas Nausėda had submitted Šimkus’ candidacy to the Seimas earlier this month.

Before becoming chair, Šimkus served on the central bank’s board and previously led its economics and financial stability work.

At 48, he is the youngest member of the ECB Governing Council. He has been quite dovish (-1 on Econostream’s hawk-dove scale ranging from -2 to +2) since the ECB started easing in 2024, but his more recent comments have been less so.