Se hai scelto di non accettare i cookie di profilazione e tracciamento, puoi aderire all’abbonamento "Consentless" a un costo molto accessibile, oppure scegliere un altro abbonamento per accedere ad

Ti invitiamo a leggere le Condizioni Generali di Servizio, la Cookie Policy e l'Informativa Privacy.

Puoi leggere tutti i titoli di
e 10 contenuti ogni 30 giorni
a €16,99/anno

  • Servizio equivalente a quello accessibile prestando il consenso ai cookie di profilazione pubblicitaria e tracciamento
  • Durata annuale (senza rinnovo automatico)
  • Un pop-up ti avvertirà che hai raggiunto i contenuti consentiti in 30 giorni (potrai continuare a vedere tutti i titoli del sito, ma per aprire altri contenuti dovrai attendere il successivo periodo di 30 giorni)
  • Pubblicità presente ma non profilata o gestibile mediante il pannello delle preferenze
  • Iscrizione alle Newsletter tematiche curate dalle redazioni ANSA.

Per accedere senza limiti a tutti i contenuti di

Scegli il piano di abbonamento più adatto alle tue esigenze.

Italy has shown solid growth, rapid disinflation - Schnabel

Italy has shown solid growth, rapid disinflation - Schnabel

'Important not to lower rates too soon,' banker tells students

ROME, 23 February 2024, 12:22

ANSA English Desk




Italy has shown "relatively solid economic growth and faster disinflation", European Central Bank (ECB) board member Isabel Schnabel said at the Bocconi University in Milan on Friday.
    In a keynote speech titled 'Has the fight against inflation been won?', Schnabel told students the "dream of central bankers is to win the battle against inflation without causing a recession" and that this is a goal "we are working towards".
    However, "we must be careful not to ease financial conditions too soon", she added.
    "We have to be cautious" on rates because "the last mile" of the fight against inflation "is the most difficult", she continued.
    An ECB survey of 11 eurozone countries published on Friday shows that inflation expectations for the next 12 months have increased by 0.1 percentage point to 3.3% from 3.2%, while those for three-year inflation have remained unchanged at 2.5%.
    Schnabel said the economy in the eurozone is "bottoming out and recovering gradually" due to a resumption in consumer spending driven by rising wages and also by the fact that "we have passed the peak of the impact of the monetary tightening policy".
    The spread between Italian and German 10-year bond yields has remained "very, very low", and this "is remarkable because we have had the steepest cycle of rate hikes" in history, she continued.
    Schnabel attributed the resistance of the Italian spread to "national policies in Italy" as well as to "the Tpi programme", the anti-spread shield introduced by the ECB in 2023.
    The ECB executive board member said Italy's debt-to-GDP ratio remains "relatively high" and that it is "desirable to bring it down".
    "However, what we have learned is that fiscal consolidation alone is not enough if there is no growth," she added.
    Ensuring "long-term growth" remains a major challenge not only for Italy but for "the entire eurozone", Schnabel told students, adding that Italy "has fiscal vulnerabilities" despite its low spread.


Not to be missed


Or use

ANSA Corporate

If it is news,
it is an ANSA.

We have been collecting, publishing and distributing journalistic information since 1945 with offices in Italy and around the world. Learn more about our services.