For Italy, the ECB's monetary tightening does not represent a source of risk: "Italian fiscal policy has remained prudent" and with an average duration of government bonds, together with investments in the NextGenerationEU programme, to boost growth, "it is difficult to imagine a country risk if you go this route".
This was said by Fabio Panetta, a member of the Directorate of the European Central Bank, in an interview.
The ECB was right to raise rates again in December, but "any unconditional indication - i.e. unrelated to the prospective evolution of the economy - that goes beyond February would deviate from our data-based approach", adds Panetta after President Christine Lagarde had indicated rate hikes in the