Ignazio Visco, member of the Governing Council of the European Central Bank (ECB), stated on Monday that Italy can weather the shock of a “gradual but necessary” pace of monetary policy tightening.
“The alarms that sometimes arise about the effects that new increases in ECB rates could have on the Italian economy cannot be shared,” added Visco. “I believe it is entirely possible to achieve the ECB’s target of 2% inflation, while avoiding a particularly negative impact on the eurozone economy and the labor market.“.
market reaction
EUR/USD, which had hit a multi-month high above 1.0900 earlier in the day, remains lower on these comments and is now trading at 1.0850, virtually unchanged on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
