Banks, EU – Baltic States, Financial Services, Latvia

The ECB council’s monetary policy meeting will discuss economic development in the euro area and decide whether any corrections are necessary to the monetary policy. The ECB council will hear the latest economic growth forecasts prepared by ECB economists.

As reported, Bank of Latvia President Ilmars Rimsevics, who is under investigation by the Corruption Prevention Bureau (KNAB), has been prohibited from fulfilling his duties and leaving the country. His duties are performed by Razmusa.

Razmusa also said earlier that ECB meeting are held frequently and participants from the Bank of Latvia take part in these meetings. If Rimsevics is banned from fulfilling his duties as the Bank of Latvia governor, Latvia may not participate in the votes of the ECB council.