June 8, 2018 / 9:08 AM / 10 months ago

Gradual rate rise not a cause for concern for Italy -Bank of Italy

PARMA, Italy, June 8 (Reuters) - A gradual rise in interest rates to pre-crisis levels is not a cause for concern for Italy, the director general of the Bank of Italy, Salvatore Rossi, said on Friday.

“Under normal conditions, a very gradual return of interest rates to levels more in line with pre-crisis levels, does not have significant consequences for the Italian financial system and especially for the real economy,” Rossi said in a speech.

Rossi was speaking as Italian government bonds faced renewed selling pressure, with investors wary of holding the country’s debt given uncertainty about the new government’s policy agenda.

Reporting by Valentina Accado; Editing by Crispian Balmer

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