mag. Boštjan Vasle

Banka Slovenia

In December 2018, Boštjan Vasle was appointed Governor of the Bank of Slovenia and thus a member of the Governing Council of the European Central Bank. He graduated from the Faculty of Economics, University of Ljubljana, and continued his education at the Central European University in Budapest, where he obtained a master’s degree in monetary policy in 1997. After graduating, he landed a job at the Ministry of Finance, in the field of monitoring and analysis of public debt of the Republic of Slovenia. In 2000, he joined the Office of the Republic of Slovenia for Macroeconomic Analysis and Development, where he mainly monitored pricing and monetary policy and later took over the Macroeconomic Analysis and Economic Policy Division’s management. In December 2007, he was appointed Director of the Office, which he headed until the end of 2018. In his mandate, together with the competent domestic and international institutions, he participated in solving all vital economic challenges faced by the Republic of Slovenia and implementing projects in the field of state development policies.

A Monetary Policy in the Current Situation

The 2020 health shock and related measures led to an even deeper economic downturn than the last financial crisis. At the ECB level, we have responded quickly and strongly to the acute situation so far. To alleviate the negative pressures of the shock on the price level and stabilise the financial markets in the spring, in addition to keeping key interest rates at historically low levels, we acted and still operate mainly through a substantial increase in securities purchases and favourable targeted loans to banks. With these non-standard measures, we maintain favourable financing conditions for companies, individuals and the state. Together with micro and macro-rating measures and decisive action by other policies, we contribute to financial stability and mitigate the crisis’s impact on the real sector.