ECB’s Panetta Says Disinflation ‘Well Under Way’
- Bank of Italy chief speaks as inflation there slows to 0.7%
- ‘Disinflation is well under way,’ long-time dove declares
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The European Central Bank must be careful to avoid too much harm to growth as it keeps borrowing costs high to wring inflation out of the economy, Bank of Italy Governor Fabio Panetta said.
In his debut speech on monetary policy after taking up his role a month ago, the former ECB Executive Board member stuck with his long-time dovish tone, just as consumer-price data show initial signs of a synchronized slowdown across the region.