The high cost of living cannot be fought with the increase in wages: says the number one of Bank of Italy Ignazio Visco according to whom the increase in energy prices is “a ‘tax’ on our economy that cannot be returned to the sender and which cannot be eliminated through vain races between prices and wages”, and in this “the responsibility of the social partners remains crucial”: said the Governor of the Bank of Italy Ignazio Visco in the lectio magistralis on Inflation and monetary policy, organized by the Ugo association La Malfa.
The number one on via Nazionale also reflects that “the monetary policy reference rates, which in the euro area had been reduced to extraordinarily low values to respond to the economic repercussions of the serious economic and financial crises experienced in the last ten years, are still below the level consistent with achieving our medium-term inflation target