Winter is coming in the Italian economy

By RockedBuzz 1 Min Read

Corporate loans decreased by 6.7 % year-on-year in September, which is a file after the 6.2 % annual lower in August. The Italian central financial institution attributes the lower in company lending to the ECB’s financial tightening. A sequence of rate of interest hikes by the ECB introduced the base charge to a file degree and made borrowing dearer for firms. The rate of interest for the most important refinancing operations is at the moment 4.50 %, and the rate of interest for the deposit availability is 4.00 %.

Retail deposits with Italian banks continued to lower in September in comparison with a yr earlier, though at a slower tempo than in August: by 3.5 % in September and 5.4 % in August. Deposits amounted to 2.44 trillion euros in September, in comparison with 2.42 trillion in August.

Cover picture supply: Getty Images

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