(ANSA) - FLORENCE, NOV 14 - "After the progress we have already made in adjusting our monetary policy orientation, an aggressive tightening is not advisable".
This was stated by Fabio Panetta, a member of the ECB board, at the European University Institute of Fiesole, underlining that "As long as inflation expectations remain anchored, monetary policy should adapt but not overreact".
According to Panetta, "estimates indicate that" the tightening of monetary policy in the Eurozone "will subtract on average more than one percentage point from annual real GDP growth up to 2024".
As for inflation, he noted that "the risks associated with this situation should not be underestimated" and "the impact of the current shocks on the output gap,"