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ECB's Nowotny says that Italy's woes shouldn't delay rate hikes

ECB's Nowotny says that Italy's woes shouldn't delay rate hikes

Central Banks
Justin Low
31/08/2018 | 05:00 GMT

Comments by ECB member Ewald Nowotny

  • Sees no immediate risk arising from the situation in Italy
  • ECB should focus on getting deposit rate out of negative territory

He goes on to say that Italy's problems are a "special challenge" that cannot be solved by monetary policy and that it needs to be tackled by "real-economy politics" instead. Hawkish tones there and that is underpinning the euro to session highs at the moment.

EUR/USD up to a high of 1.1686, EUR/GBP up to 0.8974, and EUR/JPY up to a high of 129.84 on the day.

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