ECB should avoid things that worsen the economy, Italy PM says

December 29, 2022 11:51 PM AEDT | By Reuters
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ROME (Reuters) - Italy's Prime Minister Giorgia Meloni on Thursday said the European Central Bank should avoid making "pejorative choices" and communicate well on its choices, after its decision to hike interest rates raised financial pressure on Italy.

"In the current situation, it would be better to avoid making pejorative choices," Meloni told reporters at her end-of-year news conference, adding the Italian government respected the autonomy of the central bank.

Earlier this month, the ECB raised its benchmark interest rate by 50 basis points as widely expected, but also signaled that more hikes would follow in the coming months.

Following that move, several ministers in Meloni's right-wing government criticised the European Central Bank and said it risked helping Russia's efforts to undermine the EU economy.

(Reporting by Angelo Amante, editing by Alvise Armellini)


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