Italy warns of ‘damage’ from ECB interest rates hikes | The Malaysian Insight

Italian Prime Minister Giorgia Meloni has criticised the European Central Bank’s hiking of interest rates to fight inflation. – EPA pic, June 28, 2023.

ITALIAN Prime Minister Giorgia Meloni today criticised the European Central Bank’s hiking of interest rates to fight inflation, warning “the cure risks proving more damaging than the disease”. “The ECB’s simplistic recipe of raising interest rates does not appear to many to be the right way forward,” she said in a speech to parliament ahead of an EU summit later this week.

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