Bank of Italy Sees ‘Signs of Improvement’ in Credit Market
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Italy’s credit market is benefiting from the European Central Bank’s quantitative easing program, Bank of Italy Governor Ignazio Visco said.
“Italian banks’ ample recourse to the targeted longer-term refinancing operations and the start of government bond purchases by the Eurosystem have permitted a significant reduction in the cost of bank funding and led to a gradual improvement in that of credit.” Visco, who sits on the European Central Bank Governing Council, gave the keynote Tuesday at the Bank of Italy’s annual meeting.