November 9, 2018 / 12:05 PM / in 8 months

Bank of Italy says hopes for government, EU deal over budget

ROME, Nov 9 (Reuters) - Italy’s central bank said on Friday it hoped the government could reach a deal with the European Commission over its budget, though it labeled its growth forecasts as “ambitious”.

The Bank of Italy added that the country’s rising borrowing costs risked cancelling out the effect of the expansionary measures included in the fiscal plan.

“I hope in a solution that combines both Italy’s respect for the rules it must abide with as a member of the monetary union... and the government and parliament pursuing their political goals,” Luigi Federico Signorini, deputy director general of the Bank of Italy, said in a parliamentary hearing. (Reporting by Giuseppe Fonte, writing by Giulia Segreti)

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