Europe

Rising interest rates to curb inflation are Visco-in English

(ANSAmed)-Rome, June 16-Bank of Italy Governor Vincenzo Bisco is at a Young Factor event in Milan on Thursday, with the European Central Bank’s expected interest rate hike aimed at curbing inflation next month. He said he was.

“We are raising interest rates to prevent inflationary geniuses from getting out of hand. Inflation expectations grow out of control, eventually leading to price and salary chasing each other, leading to lower real income. Only. “, The governor explained.

“Recently, we have recorded a very strong price increase, which is different in Europe and the United States,” Visco explained.

He recalled that the Federal Reserve is “currently implementing restrictive monetary policy to curb over-demand-stimulated and very strong price increases.” The Federal Reserve Board rose 0.75% on Wednesday. This is the largest rise since 1994.

Meanwhile, the European Central Bank “is facing price increases, primarily due to rising energy costs,” but must intervene by avoiding such cost transfers, damaging family purchasing power, Bisco said. Said. (ANSAmed).

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