Boris Vujcic selected as ECB Vice President

Boris Vujcic has been selected as the new Vice President of the European Central Bank (ECB). His selection is widely supported due to his experience as the governor of Croatia's central bank, particularly noted for the smooth transition of Croatia into the eurozone in 2023. He has pursued realistic and inflation-sensitive policies over the past decade, aligned with the ECB consensus. His appointment is viewed as balancing the ECB's internal dynamics, emphasizing his perspective as a technocrat from a newer euro-area member. While markets expect some level of change, Vujcic's stability suggests that large volatility may not occur. The ECB's current tone remains focused on inflation, and how Vujcic's role unfolds, especially in relation to next year's presidential elections, will be crucial for market participants.