ECB Draws Fury From Italy and Portugal in Rate-Hike Backlash
- Lagarde ‘living on Mars,’ says Salvini as coalition hits out
- Spain’s Calvino says ECB now probably done with rate increases
The central bank's headquarters in Frankfurt.
Photographer: Ben Kilb/BloombergThis article is for subscribers only.
The European Central Bank’s interest-rate hike sparked a backlash from Italy and Portugal, while Spain’s deputy premier expressed hope that its tightening push is now done.
As the close-run decision by President Christine Lagarde and colleagues in Frankfurt to raise borrowing costs by a quarter point rippled across the region, the political reaction echoed previous episodes earlier this year.