Central Banks
Visco Says ECB Must Take Care to Avoid ‘Excessive’ Hit to Growth
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The European Central Bank must ensure that its interest-rate hiking doesn’t have an “excessive” impact on the economy, according to Governing Council member Ignazio Visco.
“We now have to proceed with the right degree of graduality” in tightening monetary policy, the Bank of Italy governor said in an annual speech in Rome. “Care must be taken to prevent the intensity of its transmission from causing an excessive brake on consumption and investment. This is a tough challenge.”