The governor of the Bank of Italy sees “consensus” for the ECB to decrease charges in June | National and worldwide financial system | EUROtoday

The governor of the Bank of Italy, Fabio Panetta, said this Saturday, after the assembly of the finance ministers and governors of the central banks of the G7 international locations, assembly in Italy, that there’s a pretty basic consensus on the potential for reducing rates of interest subsequent 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 said on the last press convention of the summit in Stresa, within the north of the transalpine nation. “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, G7 central financial institution governors expressed “satisfaction with the resistance of the global economy to monetary tightening” lately and famous that “the outlook is bullish, not exceptionally, but bullish around the world.” Inflation additionally “has a common underlying trend, it is falling in all major economic areas”, though inconsistently, with Europe forward of the US on this case.

In addition to the financial ministers of France, Great Britain, Germany, Italy, Canada, Japan and the United States, the president of the International Monetary Fund, Kristalina Georgieva, additionally participated within the summit; from the ECB, Christine Lagarde; the EU commissioner for financial affairs, Paolo Gentiloni; the president of the Eurogroup, Pascal Donohoe, and the Ukrainian Minister of Finance Marchenko.

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