News & Feeds February 5, 2023

Italy Finances Not Threatened by ECB Rate Hikes, Visco Says

Increased borrowing costs at the European Central Bank so far aren’t interfering with Italy’s ability to keep financing its debt load, according to Governor Ignazio Visco. “At present, the hikes in key interest rates are broadly manageable for Italy’s public finances,” the central bank chief said in Milan on Saturday. “The average cost of debt is increasing gradually, thanks to its high average residual maturity.” The ECB decision to raise rates by 300 basis points since July has led to repeated attacks by Italian politicians, with Prime Minister Giorgia Meloni calling the moves “rash.” After