Italian and Portuguese leaders criticise ECB policy

Right-wing Meloni and centre-left Costa both sound warning notes on rates

ECB president June 2023
Christine Lagarde, European Central Bank

Several eurozone governments criticised the European Central Bank’s tighter monetary policy this week.

Italy’s right-wing prime minister, Giorgia Meloni, a long-term ECB critic, renewed her attacks on its policy recently. Portugal’s left-of-centre prime minister, António Costa, also said he expected the ECB to adopt a more accommodative approach after the summer.

Whilst the uptick in core inflation does not mean that the disinflationary process has stopped, it will embolden the ECB to

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