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MNI BRIEF: ECB Hikes 'Disastrous' For Italy, Europe - Salvini


The European Central Bank's decision to raise interest rates 50 basis points Thursday added to the current hiking cycle is “disastrous for Italy and Europe,” Italian deputy prime minister and Transport minister Matteo Salvini said in a radio interview on Friday.

Appearing to pin the blame for the hikes on ECB President Christine Lagarde, the League’s leader and one the senior figures in Rome's executive warned that if the hikes continue, families and business could soon stop seeking loan finance. “That’s not Salvini who says this, its the facts,” he said when questioned.

The ECB hiked rates by 50 bps on Thursday, taking the deposit rate to 3.0%, 350 bps higher than the lows seen as recently as July 2022, as it continues to fight exceptionally high inflation. (MNI ECB WATCH: Rates Up 50Bps With 'Ground To Cover' - Lagarde)

MNI Rome Bureau | +34-672-478-840 |
MNI Rome Bureau | +34-672-478-840 |

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