The European Central Bank Interest rates are still at a "reasonable level not creating extraordinary pressure" on the economy, even if they are at restrictive levels, Bank of Italy’s governor Ignazio Visco told and Italian parliament hearing on Wednesday.

Questioned by lawmakers, Visco argued that future ECB rate movements should be decided meeting-by-meeting “based on the available information” and that prudence should be to the fore.

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Questioned by lawmakers, Visco argued that future ECB rate movements should be decided meeting-by-meeting “based on the available information” and that prudence should be to the fore.

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