Eurozone rate cut is ‘fast approaching’, says Panetta

Bank of Italy governor warns that delaying looser policy could lead to financial instability

Fabio Panetta
Bank of Italy governor Fabio Panetta
Bernd Hartung/European Central Bank

The European Central Bank (ECB) may have to reverse its monetary tightening soon, Bank of Italy governor Fabio Panetta said on February 10. 

“Macroeconomic conditions suggest that disinflation is at an advanced stage, and progress towards the 2% target continues to be rapid,” Panetta said in a speech. “The time for a reversal of the monetary policy stance is fast approaching.” 

He said eurozone disinflation was in an “advanced stage” and warned that policy-makers might increase financial

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