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☆ Euro zone inflation tumble pits ECB against markets
▼ + stars: | 2023-11-30 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

Inflation has dropped quickly towards the ECB's 2% target from levels above 10% just a year ago but policymakers have cautioned against excessive optimism. The rapid inflation slowdown puts the euro zone central bank and investors on a collision course as the two appear to see greatly different paths ahead, both for consumer prices and ECB interest rates. "And if the recent trends in inflation and growth continue then 2024 will be the year when the ECB implements a pirouette in monetary policy." "The market is therefore right to start looking at rate cuts for 2024. Some economists argue that modelling current inflation is exceptionally difficult because corporate profits are the main driver, not wages as in normal bouts of rapid inflation.

Persons: Sarah Meyssonnier, Kamil Kovar, Yannis Stournaras, Fabio Panetta, Panetta, Christine Lagarde's, Bert Colijn, Balazs Koranyi, Catherine Evans Organizations: REUTERS, ECB, Moody's, Bank of Italy, ING, Thomson Locations: Paris, France, FRANKFURT

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

☆ Italy's competition watchdog stops Intesa moving clients to mobile bank
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

Intesa Sanpaolo bank logo and stock graph are seen displayed in this illustration taken, May 3, 2022. Italy's AGCM antitrust authority opened a probe earlier this month into the way Intesa was transferring clients to Isybank after a raft of complaints which the watchdog said had now reached 5,000. It wants Intesa to only move clients who explicitly give their consent. Isybank targets 4 million Intesa customers under 65 who only access their banking services remotely. The group migrated the first 300,000 Intesa account holders in October and plans to shift another 2 million in March.

Persons: Dado Ruvic, Intesa, AGCM, Carlo Messina, Antonio Valitutti, Isybank, Valentina Za, Giulia Segreti, Christina Fincher, Jane Merriman, Susan Fenton Organizations: REUTERS, Bank of Italy, European Central Bank, Thomson Locations: Italy

☆ Italy raises $1 bln as reduces Monte dei Paschi stake
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

NOVEMBER 2007 - MPS buys Antonveneta from Santander (SAN.MC) for 9 billion euros in cash, months after the Spanish bank paid 6.6 billion euros for it. JULY 2011 - MPS raises 2.15 billion euros in a rights issue ahead of European stress test results. JUNE 2014 - MPS raises 5 billion euros in a rights issue and repays the state 3.1 billion euros. JUNE 2015 - MPS raises 3 billion euros in cash after a 5.3 billion euro net loss for 2014 on record bad loan writedowns. It repays the remaining 1.1 billion euro state underwritten special bond.

Persons: Valentina Za, Keith Weir Organizations: MILAN, Monday, MPS, JPMorgan, Treasury, Bank of Italy, Antonveneta, Italy's, ECB, EU Commission, Thomson Locations: Italy, Siena, Santander, Europe

☆ Unlike private stablecoins, the digital Euro will protect the public interest: Bank of Italy
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnlike private stablecoins, the digital Euro will protect the public interest: Bank of ItalyAlessandr Perrazzelli, deputy governor of the Bank of Italy, discusses how central bank digital currencies differ from stablecoins and cryptocurrencies.

Persons: Bank of Italy Alessandr Perrazzelli Organizations: Bank of Italy

☆ Be cautious, dove Visco tells ECB on last day as council member
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsROME, Oct 31 (Reuters) - The European Central Bank (ECB) should be cautious in coming months having hiked rates steeply to curb inflation, Bank of Italy Governor Ignazio Visco said on Tuesday on his last day in office. In a speech to bankers in Rome Visco, long seen as a dove on the ECB's governing council, reiterated his frequent calls for prudence. "I think the (ECB's) orientation to keep rates at current levels for a sufficiently long period of time... is a wise decision," Visco said. Visco will be replaced as Bank of Italy governor by Fabio Panetta, a former member of the ECB executive board.

Persons: Heiko Becker, Ignazio Visco, Rome Visco, Visco, Fabio Panetta, Giuseppe Fonte, Angelo Amante, Gavin Jones Organizations: European Central Bank, REUTERS, Rights, Bank of Italy, Bank of, ECB, Thomson Locations: Frankfurt, Germany, Rome, Bank of Italy

Research shows women in richer economies are more likely to have children if they work. Prime Minister Giorgia Meloni - Italy's first female premier - has said women are "an untapped resource" that lessens the need for immigrant labour. Yet her conservative government's 2024 budget, to be presented on Monday, is not expected to include measures to drive change. According to a government report relating to 2021, nearly one in five Italian women aged under 50 left their job after having their first child. SPANISH SUCCESSMeloni's government could learn from Spain, whose female activity rate lagged Italy's in the early 1990s but is now above the EU average.

Persons: Guzzo, Vittoria, Claudia Greco, Elena, Claudia Goldin, Giorgia Meloni, Claudia Olivetti, Enza Guzzo, Gian Carlo Blangiardo, Blangiardo, Giancarlo Giorgetti, Olivetti, Paola Profeta, Katharine Neiss, Valentina Za, Elisa Anzolin, Giuseppe Fonte, Catherine Evans Organizations: REUTERS, European Union, Reuters, Research, Dartmouth College, ISTAT, Bank of, EU, France's, Milan's Bocconi University, AXA Research, Treasury, Thomson Locations: Arese, Italy, MILAN, Bank of Italy, Rome, Barcelona, Spain, Milan

☆ Italy's rising bond yields are a wake-up call, central bank warns
▼ + stars: | 2023-10-09 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +3 min

The Bank of Italy building is seen downtown Milan, November 25, 2011. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsSummary Italy's bond spread versus Germany's widest since JanuaryCentral bank calls for 'extreme' budget prudenceSays economy remained weak in Q3 after Q2 contractionSell-off plan seems like window dressing, audit court saysROME, Oct 9 (Reuters) - Italy's rising bond yields are a "wake-up call", the country's central bank said on Monday, urging the government to handle its budgetary policy with "extreme prudence". "The high debt is a serious element of vulnerability," the Bank of Italy said in a testimony to parliament. The Bank of Italy said weakness in economic activity continued in the third quarter of this year, after GDP shrank by 0.4% in the previous one. Over the past decade, proceeds from privatisation programmes have averaged less than 0.1% of national output per year, the Bank of Italy said.

Persons: Stefano Rellandini, Giorgia, Guido Carlino, Gareth Jones, Mark Potter Organizations: of, REUTERS, Bank of, Thomson Locations: of Italy, Milan, ROME, Bank of Italy, Ukraine, Israel, Rome, Greece's

The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will attempt to keep her tax-cutting promises while also lowering the fiscal deficit. "This budget is Meloni's first real economic test since she came to power last October," said Tim Jones, euro zone analyst for market consultancy firm Medley Advisors. Meloni has much less room for manoeuvre than when she hiked deficit targets in her first budget a year ago. Episodes targeting airlines and investors in Italy's 307- billion-euro ($326.74 billion) bad loan market have followed a similar pattern. Meloni subsequently said no measures were planned regarding non-performing loans, but her party's proposal is still before parliament and uncertainty persists.

Persons: Giorgia Meloni, Meloni, Tim Jones, she's, Morgan Stanley, Reuters.G Rome, Roberto Perotti, Meloni's, Valentina Za, Francesco Canepa, Giuseppe Fonte, Sara Rossi, Gianluca Semeraro, Ed Osmond, Giselda Organizations: Treasury, Advisors, European Central Bank, Reuters, Ryanair, Milan's, Bank of, ECB, Thomson Locations: ROME, Italy, Greece, Rome, Italian, Italy's, Brussels, EU, Milan

☆ Morning Bid: China adds fuel to global equity rally
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 29, 2023. Signs that the recent flurry of support measures from Beijing are working to stabilise the economy showed up in August retail sales and factory production data released this morning. The dollar remains king, with the euro swooning in the course of a very eventful few days. That sets the stage for another pivotal week ahead, featuring policy decisions from not just the Fed, but the Bank of England and the Bank of Japan. There will be plenty of opportunity to hear from ECB officials today, with the Eurogroup convening in Spain.

Persons: Kevin Buckland, Moody's, Boss Christine Lagarde, Fabio Panetta, Edmund Klamann Organizations: REUTERS, Staff, Graphics, Bank of England, Bank of Japan, ECB, Bank of Italy, Sweden CPI, France CPI, NY Fed, Thomson Locations: Frankfurt, Germany, China, Beijing, Spain, Sweden, France, Italy, Michigan, NY

☆ Europe's economy threatened by extreme heat, fires and floods
▼ + stars: | 2023-09-11 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —Mounting climate risks, illustrated by the extreme heat, wildfires and floods that ravaged parts of Europe this summer, could hurt the region’s economy as soon as this year, the European Commission warned Monday. In its latest economic forecast, the European Union’s executive arm downgraded its predictions for growth in the region in 2023 and 2024. But it added that there was “formidable uncertainty” over its latest forecast, with extreme weather among the “downside” risks. Construction and manufacturing are among other economic sectors vulnerable to extreme heat, said Owen at Saltmarsh Economics. Similarly to the European Commission, on Sunday the International Monetary Fund pointed to “grave risks to economic well-being” from climate change.

Persons: ” David Owen, Kyle Holland, Owen, Kristalina Georgieva Organizations: London CNN, European, European Travel Commission, CNN, Saltmarsh, Bank of Italy, Sunday, International Monetary, Group Locations: Europe, Czech Republic, Bulgaria, Ireland, Denmark, Italy, Greece, Spain, India

☆ Italy to propose ex-minister Franco for ECB board, source says
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

Italy's Economy Minister Daniele Franco addresses a news conference after the G7 Summit in Koenigswinter, near Bonn, Germany May 20, 2022. REUTERS/Benjamin Westhoff/File photo Acquire Licensing RightsROME, Aug 20 (Reuters) - Italy will put forward former economy minister Daniele Franco as its candidate for the executive board of the European Central Bank (ECB), a source close to the matter said on Sunday. He was appointed economy minister in 2021 in Mario Draghi's unity government, helping Italy navigate the COVID-19 crisis and the turbulence caused by Russia's invasion of Ukraine. However, in a surprise move, Economy Minister Giancarlo Giorgetti decided instead to propose his predecessor, a source close to the matter told Reuters, confirming a report in Il Sole 24 Ore newspaper. The government had initially put Franco forward as the Italian candidate to lead the European Union's lending arm, the European Investment Bank (EIB).

Persons: Daniele Franco, Benjamin Westhoff, Fabio Panetta, Franco, Mario Draghi's, Piero Cipollone, Giancarlo Giorgetti, Giorgia Meloni, Crispian Balmer, Giuseppe Fonte, Christina Fincher, David Holmes Organizations: REUTERS, Rights, European Central Bank, ECB, Bank of Italy, European Investment Bank, Reuters, Thomson Locations: Koenigswinter, Bonn, Germany, Italy, Ukraine, France, Rome, Italian, Franco

☆ ECB to write to Italy raising objections over windfall tax on banks - press
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

The building of the European Central Bank (ECB) is seen amid a fog before the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. REUTERS/Wolfgang Rattay Acquire Licensing RightsROME, Aug 18 (Reuters) - The European Central Bank (ECB) is preparing to send a letter to Italy raising objections about the government's windfall tax on banks' profits, the Corriere della Sera daily wrote on Friday. The letter will criticize the fact Rome announced the tax last week without previously informing either the Bank of Italy or the ECB as it is supposed to do under EU rules, the newspaper wrote, without citing sources. The tax risks weakening Italy's banks and its economy in general, the ECB will say in the letter to be sent within "a couple of weeks" at the latest, the article said. Reporting by Stefano Bernabei, writing by Federica Urso, editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfgang Rattay, Rome, Stefano Bernabei, Federica Urso, Gavin Jones Organizations: European Central Bank, REUTERS, Rights, della Sera, Bank of Italy, ECB, EU, Thomson Locations: Frankfurt, Germany, Italy

☆ Italian banks see deposits plunge, credit to firms at 8-year low
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

MILAN, July 11 (Reuters) - Italian savers shifted 20 billion euros ($22.02 billion) out of deposits with domestic banks in May, while lenders continued to shrink credit to businesses and stepped up bond sales, Bank of Italy data showed on Tuesday. Italian lenders increased their bond issuance by 13.2% in May from a year earlier after a 9.4% rise in April while residents' deposits with domestic banks fell 4.3% after a 3.4% decline in April. On a monthly basis, deposits in euros fell by 20 billion euros to 2,614.3 billion euros in May from April, touching the lowest level in nearly two-and-a-half years. Domestic lenders' credit to businesses fell 3.2% year-on-year in May, the lowest level since February 2015, from a 2.3% drop in April. The central bank data also showed gross unpaid loans were broadly flat at 30.24 billion euros in May, from 30.12 billion euros a month earlier.

Persons: Sara Rossi, Gavin Jones Organizations: MILAN, Italian savers, Bank of Italy, European Central, Thomson Locations: Italian

☆ Italy has frozen Russian oligarchs' assets worth $2.5 billion
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

ROME, July 4 (Reuters) - Italy has frozen Russian oligarchs' assets valued at around 2 billion euros ($2.5 billion) following the invasion of Ukraine last year, the country's central bank said on Tuesday. Italy seized assets -- including bank accounts, luxury villas, yachts and cars -- as part of the European Union's sanctions against the Kremlin and its backers. UIF Director Enzo Serata added that financial holdings worth around 330 million euros, linked to 80 individuals, had been frozen as part of the sanctions regime. Some of the oligarchs targeted by the measures have filed legal appeals, including Russian-Uzbek metals and telecoms tycoon Alisher Usmanov. In April, an Italian court referred to the EU Court of Justice a decision on whether to maintain a freeze on his assets, worth more than 80 million euros.

Persons: Enzo Serata, Alisher Usmanov, Alvise, Keith Weir Organizations: Kremlin, Bank of Italy's, Thomson Locations: Italy, Ukraine, Como, Sardinia, Tuscany, Russian

☆ Digital banking in Italy's industrial heartland at over 75%, Bank of Italy says
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

Digital banking in Lombardy has grown 20 percentage points since 2015, the central bank said in a report on the region's economy, which grew 3.8% in 2022, slightly above the national average. The number of bank branches in Lombardy fell 4% in 2022, bringing the total decline since 2008 to 39%, compared with 41% for the European Union, the Bank of Italy said. Even with the reduction, Lombardy has 41 bank branches per 100,000 residents, against a national average of 36, it added. To cut costs and upgrade its IT infrastructure, Italy's biggest bank Intesa Sanpaolo (ISP.MI) this month launched its digital-only bank Isybank. Citing Eurostat data, the Bank of Italy said 67% of Lombardy's population in 2022 accessed banking services online.

Persons: Andrea Orcel, Valentina Za, Richard Chang Organizations: MILAN, Bank of, Digital, Banco, European Union, Eurostat, Thomson Locations: Lombardy, Italy's, Bank of Italy

☆ Morning Bid: Hawkish pause for thought?
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

Asian equities are carrying on the global rally, setting Europe up nicely to do the same. The Fedspeak that has been such a big driver of markets in recent weeks, will go quiet in the days ahead with officials in a blackout period. There's been a slight pullback in expectations for further tightening after last week's data showed euro-area CPI cooling more than analysts predicted. Lagarde said that day that there was still "ground to cover" in the tightening cycle. The lira weakened more than 1% to 21.12 per dollar in thin Asian trading, approaching the record low of 21.80 marked last week.

Persons: Kevin Buckland, Chris Weston, Christine Lagarde, There's, Lagarde, Ignazio Visco, Brent, Tayyip Erodogan, Mehmet Simsek, Sam Holmes Organizations: Fed, Reuters Graphics Reuters, ECB, Economic, Monetary Affairs, Bank of Italy, PPI, Thomson Locations: Europe, United States, Saudi Arabia, OPEC, Germany, Switzerland, Spain, Italy, France

☆ ECB's Visco says falling energy prices should help tame inflation
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +2 min

ROME, June 3 (Reuters) - The rapid decline in energy costs should help to tame inflation in Europe, Bank of Italy governor Ignazio Visco said on Saturday, urging companies not to seek to boost their margins by leaving prices higher for longer. Visco, a member of the European Central Bank's governing council, said the key issue was what happened to inflation now that energy prices had retreated from peaks hit after last year's Russian invasion of Ukraine. Core inflation, which excludes volatile food and fuel prices and which has played an increasing role in the ECB's policy deliberations, fell to 5.3%. Visco warned against a wage-price spiral, saying salary rises should come against a backdrop of a growing economy rather than chasing inflation. "It is not in the interest of companies themselves ... to fail to reflect the lower cost of energy in their prices because then the cost of financing would rise," he added.

Persons: Ignazio Visco, Visco, Keith Weir, Giles Elgood Organizations: Bank of Italy, European Central, ECB, Thomson Locations: Europe, Ukraine, Turin

☆ Morning Bid: Back to data watching, with US debt bill on track
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

Unfortunately, there's little respite on that front given disappointing economic activity and persistently elevated inflation data out of Asia. China's official PMIs indicated a faster-than-expected contraction in manufacturing activity and slower growth in services in May. That followed consistently weak economic releases for April, suggesting the post-COVID reopening bounce has run out of steam. China economyAsian stock markets fell and even U.S. equity futures turned negative despite the debt ceiling reprieve, while China's yuan promptly skidded to fresh six-month lows, giving the U.S. dollar a broad boost. But much of the focus will, of course, be on the House debate over the debt ceiling bill.

Persons: Sonali Desai, Philip Lowe's, Italy's, Ignazio Visco's, Catherine Mann, Muralikumar Organizations: Sonali, Reserve Bank of Australia, U.S, CPI, Central Bank's, Bank of Italy, Bank of England MPC, Nordstrom, Thomson Locations: Asia, China, Korean, Ukraine, France, Germany, Italy, U.S, Italian

Foreign holdings of Italian government paper increased in February after 10 consecutive monthly declines, according to Bank of Italy data. "This is a magic moment for Italian bonds," he told Reuters. The share of Italian government debt held by foreign investors fell to below 20% at the end of 2022 from around 50% before the 2008 financial crisis, Bank of Italy data shows. The Italian Treasury has already taken steps to shore up demand for its bonds as the ECB retreats, by boosting purchases among domestic households and companies. Together, Italian families and firms now hold around 215 billion euros, or 9%, of Rome's debt, UniCredit's Cazzulani said, the highest level since mid-2015.

☆ Italy's Poste CEO says firms to use balance sheet in Eurovita rescue
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

MILAN, May 4 (Reuters) - Italian banks and insurers that are being called upon to rescue struggling life group Eurovita will help by using their balance sheet, Poste Italiane's CEO said on Thursday, without elaborating. The Poste Italiane chief executive said all the main Italian insurers and banks distributing products by Cinven-owned Eurovita were working on a possible solution. "Everybody would use their balance sheet instead of funding a recapitalisation," he said, adding he could not explain more. Italian authorities have taken over management of Eurovita and are working on brokering a rescue after strong-arming Cinven into pumping 100 million euros of capital into the insurer. For insurers that rely on banks and financial advisers for their distribution, redemptions totalled 119% of premiums.

Even gaining qualifications in Italy didn't help Abhishek, a 26-year-old migrant from India who got a master's degree in mechanical engineering at Turin's Polytechnic University last year. Italy, which is also contending with an exodus of skilled nationals to stronger economies, needs qualified immigrants to fill growing skilled labour shortages, many economists say. In 2023, work permits will be granted to around 83,000 non-EU migrants, according to government data, less than a third of the 277,000 who applied for them. Barbera at Turin University said the lack of migrants in skilled professions has become entrenched and hard to reverse. "Migrants in Italy have virtually no access to the middle class," he said.

☆ Morning Bid: Oil price relapse
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +4 min

Although oil prices have not yet reversed all their gains from OPEC move, Brent is down more than 5% over the past week and the year-on-year deflation in oil prices is running at 24%. And there's also signs oil loading from Russia's western ports this month is rising to the highest since 2019 -= despite Moscow's pledge to cut output. Tesla (TSLA.O) shares dropped 2% after the electric-vehicle maker's sixth U.S. price cut this year. Helped by the oil price retreat, 2-year U.S. Treasury yields fell back almost 10 basis points to 4.19%. VIX and bear marketsShare price performance, earnings and sales for TeslaReuters GraphicsReuters GraphicsBy Mike Dolan, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Banking crisis forces ECB policymakers to rethink rate hikes, but focus still firmly on inflation
▼ + stars: | 2023-04-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

A sign for the European Central Bank (ECB) outside the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 2, 2023. Alex Kraus | Bloomberg | Getty ImagesEuropean Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month's banking turmoil, but remain committed to reining in core inflation. However core inflation — which excludes volatile energy, food, alcohol and tobacco prices — rose to an all-time high of 5.7%. But he said policymakers will be examining the data for signs that core inflation is coming down and the bank's medium-term inflation target of 2% is within sight. So yes we are worried about the core inflation not yet peaking," Scicluna said.

☆ European banks 'doing OK' but contagion still a risk, Bank of Italy governor says
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean banks 'doing OK' but contagion still a risk, Bank of Italy governor saysIgnazio Visco, governor of the Bank of Italy and member of the European Central Bank's governing council, discusses the Italian and wider European banking sectors, the outlook for the EU economy and next steps on monetary policy.

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