"Banks in Italy maintain almost two-thirds of fixed-rate mortgages, with constantly increasing collection rates, and, on request, can extend the duration of mortgages for those who are up to date with payments or make subrogations". This is what the president of Abi Antonio Patuelli said at the ABI assembly. Just yesterday, Deputy Prime Minister and Minister of Infrastructure Matteo Salvini said he is working with the Ministry of Economy "to lengthen the installments of those who have a variable rate mortgage".
The point on the commitment of the banks in this difficult phase and on Italy and Europe the theme at the center of the annual assembly at the auditorium of technology in Rome
Speeches by the Governor of the Bank of Italy, Ignazio Visco, and the Minister of Economy and Finance, Giancarlo Giorgetti.
"The risks for credit to companies and households are evident which, in ten years of zero interest rates, often had not foreseen the rapid increases in rates and reductions in liquidity", said Patuelli, underlining however that "banks are committed to guaranteeing substantial levels of liquidity also in the medium and long term, increasingly valuable and expensive after the decisions of the ECB, when the now more expensive European TLTRO financing programs are running out, with risks, which the banks fight, of credit rationing"
VISCO CONFIRMS, 'GDP OVER 1% THIS YEAR'
"Given tighter financing conditions and slowing global trade, we expect GDP to increase moderately in the coming months." This was stated by the governor of the Bank of Italy Ignazio Visco at the ABI assembly, specifying that "in the year, according to estimates published in mid-June, product growth could exceed 1%; It would remain around this value in the next two years". According to Visco, however, "these forecasts are still characterized by high uncertainty and risks mainly oriented to the downside".
"If we need to keep our guard up and the bar straight, we also need good doses of prudence and patience in assessing and anticipating the effects of the monetary tightening in place since last year, even if justified and to be maintained. At the same time, it is certainly possible to limit the negative consequences on economic activity", said Visco, adding: "I do not understand and continue not to share, in this regard, even recent observations made that would lead to prefer the risk of being more, rather than less, restrictive. I think you have to be cautious enough."