The governor of the Bank of Italy, Fabio Panetta, stated this Saturday, after the meeting of the finance ministers and governors of the central banks of the G7 countries, meeting in Italy, that there is a fairly general consensus on the possibility of lowering interest rates next month.
“At the next meeting of the European Central Bank in June, the conditions are in place for an adjustment of monetary policy, inflation is falling in all its components, and it seems to me that a fairly general consensus has emerged on the possibility of a rate cut ”Panetta stated at the final press conference of the summit in Stresa, in the north of the transalpine country. “It is true that the ECB’s motto is that it is decided meeting by meeting, but now this consensus has finally expanded and even those who had the most reservations are converging.”
According to Panetta, the G7 central bank governors expressed “satisfaction with the resistance of the world economy to monetary tightening” in recent years and noted that “the outlook is bullish, not exceptionally, but bullish throughout the world.” Inflation also “has a common underlying trend, it is falling in all major economic areas”, although unevenly, with Europe ahead of the US in this case.
In addition to the economy ministers of France, Great Britain, Germany, Italy, Canada, Japan and the United States, the president of the International Monetary Fund, Kristalina Georgieva, also participated in the summit; from the ECB, Christine Lagarde; the EU commissioner for economic affairs, Paolo Gentiloni; the president of the Eurogroup, Pascal Donohoe, and the Ukrainian Minister of Finance Marchenko.
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