Italian Prime Minister Mario Draghi handed over his resignation to President Sergio Mattarella this Thursday (21) after a rupture in his governing coalition, plunging the country into political turmoil and hitting financial markets.
Following the news, Italian bonds and stocks fell sharply as markets braced for the European Central Bank’s first interest rate hike since 2011.
The ECB raised the main interest rate in the euro zone by 0.5 percentage point, starting an upward cycle to contain record levels of inflation. As a result, the deposit rate is now 0%, down from -0.5% previously.
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*Posted by Fabricio Julião, from CNN Brasil Business
Source: CNN Brasil
