The criticism comes after the European Central Bank raised interest rates by half a percentage point.
Three ministers from Italian Prime Minister Giorgia Meloni’s new right-wing government have publicly criticised the European Central Bank (ECB) for raising interest rates despite a looming recession in the eurozone.
The ECB on Thursday raised interest rates by half a percentage point and, like the US Fed a day before, kept further hikes firmly on the table to bring runaway inflation under control.
Italy’s Foreign Minister and Deputy Prime Minister Antonio Tajani said on Friday it was “fair” to criticise such moves because they harm economic growth, with fallouts for markets and households.
“I have always been very sceptical on the decision to raise rates in Europe,” Tajani said in an interview on RAI public radio, arguing that inflation in Europe is largely due to an…
