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Visco, Italy is able to handle the rate hike

2023-01-23T14:14:24.646Z


"Our country is able, continuing on the path already taken of prudent policies and reforms, to manage the consequences of a gradual but necessary monetary restriction". (HANDLE)


(ANSA) - ROME, 23 JAN - "Our country is capable, continuing on the path already undertaken of the prudent policies of the reforms, of managing the consequences of a gradual but necessary monetary restriction".

This was stated by the governor of the Bank of Italy Ignazio Viscvo speaking to the AmbrosettiClib.

According to Visco "the alarms that are sometimes raised about the effects that further increases in official rates could have on our economy cannot be shared".


   Instead, Visco underlines the "significant risks" deriving from inflation for households, businesses and for savings.


    Italy ended 2022 with GDP growth close to 4%, "fully recovering pre-Covid levels" but, compared to the peak reached at the beginning of 2008, the product is still more than three percentage points lower" and at the end of the year the economy has weakened, adds the governor. However, the estimates are uncertain due to the volatility of the gas price. "In short, it seems to be on a roller coaster, and in these conditions it is not only difficult to make macroeconomic forecasts but also, for households and businesses, spending programs and of investment". (ANSA).


Source: ansa

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