“The BTP-Bund spread still remains too high”. Thus the governor of Bankitalia Ignazio Visco, on the occasion of the OMFIF (Official Monetary and Financial Institutions Forum) event. Referring to the Meloni government, Visco commented: “So far so good”, that is: “So far so good”.
The governor specified that, on the occasion of the first contacts with the Meloni government, “obviously the question” relating to the implementation of the NRP “was the subject of discussions”. However, these discussions were not a cause for concern:
“I have to say – underlined the governor of the Bank of Italy – so far so good (so far so good)”.
Of course, it is possible that we are discussing the “revision of some components of the NRP, which I would not say relevant. But so far – Ignazio Visco said – I don’t think we are on a very different path ”compared to the previous government. About the
ECB monetary policy “I don’t think we should expect to react in the same way the Fed reacted” to inflation. The BTP-Bund spread travels around 217 basis points, up by more than 10 basis points at 4.4%.
Yesterday, the FOMC, the Fed’s monetary policy arm, raised rates by 75 basis points for the fourth consecutive time, taking them from the range of 3% to 3.25% to the new range of 3.75% and 4%, a record value since 2008.
On 27 October, the Governing Council of the ECB decided to increase the interest rate on main refinancing operations and the interest rates on marginal lending operations and deposits by 75 basis points, respectively to 2.00% and 2%. 25% and 1.50%.