ROME (ITALPRESS) – “Appreciable but not satisfactory.” This is how the CNA calls the European Central Bank’s decision to cut interest rates by 0.25 percent. “The sharp decline in inflation and the downward revision of growth estimates by the ECB itself,” the Confederation stresses, “probably suggested a more robust cut. Given that growth estimates are expected to fall mainly due to the lower contribution of domestic demand in the coming quarters, it is clear that it is this weakness that is the biggest problem for the Eurozone economies and not inflation around 2 percent. Within this framework,” Cna points out, “Italian companies are facing a persistent credit crunch, as photographed by the Bank of Italy a few days ago. “A more painful squeeze for artisans, micro and small businesses, which are more dependent on bank credit. In the aftermath of the ECB’s decision, albeit insufficient, we call on the Italian credit system to abandon the policy of tightening that risks suffocating much of the national productive framework. At the same time, it is necessary that the banks immediately reverberate on the conditions applied to customers the decision of the ECB, avoiding – concludes the Confederation – to waste more precious time in the interest of businesses and especially of the entire country.”
– Photo Agency Photogram –
(ITALPRESS).
