Central Banks
Italy’s Giorgetti Cautions Against Temptation to Raise ECB Rates
Giancarlo Giorgetti, Italy's finance minister, left, and Roland Lescure, France's finance minister, at a Eurogroup meeting in Brussels.
Photographer: Omar Havana/BloombergItalian Finance Minister Giancarlo Giorgetti cautioned against the temptation to hike interest rates in response to fallout from the conflict in the Middle East.
“The economic risk is once again the flare-up caused by rising energy prices, and it would be a grave problem to think that the solution could be monetary tightening,” Giorgetti said ahead of a meeting of euro-area finance chiefs in Brussels.