Martedì, 23 Ottobre 2018

Interest rates in Italy and Spain too high, IMF says


New York, March 6 - Interest rates in Italy and
Spain remain too high in spite of European Central Bank (ECB)
directives, the International Monetary Fund (IMF) said on
"In spite of the ECB's efforts, transmission of its
monetary policy remains limited", said IMF European Department
Director Reza Moghadam.
Even before the latest eurozone GDP data and the Italian
elections threw a long shadow over Europe, economists were
having a hard time explaining why markets remain upbeat while
labor and production slump, Moghadam added.
"Growth will probably continue sluggish for some time, to
the detriment of governments and banks", he said.
The ECB's bond buying program relieves some of the
pressure, but the EU needs a banking union to ensure financial
stability, according to Moghadam.

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