ECB must avoid things that make the economy worse, says Meloni

By: News Team

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ECB must avoid things that make the economy worse, says Meloni

Italian Prime Minister Giorgia Meloni said on Thursday the European Central Bank should avoid making “pejorative decisions” and communicate its decisions well, after its move to raise interest rates increased financial pressure on Italy.

“In the current situation, it would be better to avoid making pejorative decisions,” Meloni told reporters at his year-end news conference, adding that the Italian government respects the autonomy of the central bank.

Earlier this month, the ECB raised its benchmark interest rate by 50 basis points, as expected, but also signaled that there would be more hikes in the coming months.

Following that move, several ministers in Meloni’s right-wing government criticized the European Central Bank, saying it risked contributing to Russia’s efforts to undermine the EU economy.

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