Italian Prime Minister criticizes ECB for raising interest rates

Italian Prime Minister Giorga Meloni on Wednesday criticized the European Central Bank for repeatedly raising interest rates, saying it follows an “excessively simplistic” approach that could do more harm than good.

According to “Reuters”, the European Central Bank raised interest rates to their highest level in 22 years this month, and said that a ninth consecutive rate hike was certain in July, as it expected inflation to remain above the target level of two percent until the end of the year. 2025.

“It is right to decisively fight inflation, but for many people the simplistic prescription of interest rate hikes that the European Central Bank follows does not seem the right path,” Meloni told parliament.