The new Governor of the Bank of Italy Fabio Panetta made his debut at the Assiom Forex Congress, which also this year saw the qualified participation of IMI Corporate & Investment Banking of Intesa Sanpaolo. The discussions were dedicated to a wide-ranging debate on the extensive processes of innovation in the financial market that have and will have significant effects on operations and clients.
THREE CONDITIONS FOR EASING MONETARY POLICY
Panetta pointed out that the ECB's rates cut cycle can start under three conditions: the first is that the disinflation cycle is very well underway, and indeed it is, because in just over 12 months inflation indicators have fallen by more than 8 percentage points in the Eurozone; the second is that the disinflation cycle is still continuing, and this condition is also met; the third condition is that a rate cut does not constitute a threat to Eurozone price stability in the medium term, and this is a more complicated condition to be ascertained.
THE DIGITAL EURO FRONTIER
Piero Cipollone, Member of the ECB’s Executive Board, spoke about the ambitious digital Euro project, which should be seen in the context of an increasing integration of financial markets and payment systems. In fact, the introduction of the digital Euro will strengthen the role of the European currency at international level, consolidating Europe's position in the economic, financial and geopolitical area.
In this video, Barbara Valbuzzi, Head of Markets Analysis & Business Coordination, Massimiliano Raposio, Head of E-commerce Distribution, and Cristiano Maffi, Head of Global Primary Markets & Solutions, of the IMI Corporate & Investment Banking Division of Intesa Sanpaolo, outline the main issues discussed at the 30th Assiom Forex Congress.