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Bank Of Spain Market News

The Banco de España has been at the vanguard of the single currency as it was in Madrid, in 1995, when the name of Euro was officially adopted. Its role as a national bank is very focused on analytical and research as most of the Spanish banking system is under the supervision of the ECB. Current governor Pablo Hernández de Cos has been in office since 2018 and has a mandate until 2024 with no possibility of extension. Hernández de Cos is also the president of the Basel Committee on Banking Supervision since 2019. Traditionally dovish, he has been a firm defender of adopting a symmetrical inflation target allowing overshooting and that the degree of acceptance for inflation deviations above 2% would be the same when deviations are below.

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