Italian fin min Padoan out on the wires 3 Oct
Can't keep Brexit out of the headlines this morning.
- changes in bank sector benefitting Italian economic outlook
- Italian banking sector to gain in efficiency, soundness
- budget measures seen adding 0.3% of GDP 2018
- labour market improving
- employment to rise
- Italy's debt-to-gdp reduction to accelerate in next years
- too rapid deficit cut would jeopardize Italian recovery
Cautious but quietly optimistic tones from Padoan.
EURUSD up through 1.1756 but large option expiries likely to be defended at 1.1770. EURGBP also still underpinned at 0.8868
Padoan quietly optimistic on Italian economy