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Banai noted that the criteria include achieving a stable fiscal position, declining state debt levels, low inflation, low yields on long-term government securities and exchange-rate stability.
He added that it could be useful to revisit the MNB’s 3% medium-term inflation target in light of the 2.7% reference value for the price-stability criterion.
The Maastricht inflation criterion is set at 1.5 percentage points above the average harmonized CPI in the three European Union member states with the lowest inflation.
Banai said the MNB’s June forecast for average annual inflation below 2% in 2026 remained “realistic” in light of developments in the global economy. The central bank’s Inflation Report put average annual CPI at 1.8% for 2026.
Banai also acknowledged the possible disadvantages of joining the eurozone and said adopting the common currency would not, in itself, accelerate economic convergence. That, he added, would depend on the quality of economic policy.
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