Economics, EU – Baltic States, Financial Services, Lithuania, USA

This is the first such high-level meeting between the heads of the Bank of Lithuania and the FRS, the central bank of Lithuania reports.

"The shapers of monetary policy on both sides of the Atlantic are currently encountering various challenges, but the tasks for both are the same – to contribute to sustainable economic development," said Vasiliauskas.

He noted that economic expansion in the euro area remains subdued, therefore the European Central Bank (ECB), which is encountering the challenge of low inflation, in seeking to revitalise the funding of the real economy, recently began to apply new accommodative monetary policy measures. In turn, the FRS decreases the extent of quantitative easing programmes and plans to tighten monetary policy, because the economic recovery of the US is gaining a more solid foundation.

"The ECB and the FRS are the world's largest central banks, their decisions have a significant impact on the global economy, therefore in the agenda of the meeting it is planned to discuss the effect that the FRS and ECB monetary policy has on international financial markets, price stability and economic development," said the head of the Bank of Lithuania, who as of January 2015 will become a member of the ECB Governing Council, the Bank of Lithuania said.