Fabio Panetta is poised to be nominated as Bank of Italy governor after Prime Minister Giorgia Meloni’s coalition agreed on a successor to Ignazio Visco, according to people with knowledge of the matter. An announcement on a return to Rome for the European Central Bank Executive Board member is imminent and could be made as soon as Tuesday after a cabinet meeting, said the people, who declined to be identified because discussions on the matter are confidential. The head of state, Sergio...

Italian Prime Minister Giorgia Meloni’s government has selected European Central Bank Executive Board member Fabio Panetta to succeed Ignazio Visco as the next Bank of Italy governor. His nomination was decided at a cabinet meeting in Rome on Tuesday, according to people familiar with their deliberations. The plan to pick him today was previously reported by Bloomberg. The head of state, Sergio Mattarella, will need to approve the selection before Panetta can take up his role once Visco’s...

Italy has successfully hit all 55 targets required to continue to receive European Union recovery fund cash, Minister Raffaele Fitto said in a statement. The country managed to reach targets set for the second half of the year, including creating a cyber-security agency, a reform of local public services, an education reform and changes to the fiscal system, said Fitto, who is Italy’s minister for the South, European Affairs, Cohesion Policy and the National Recovery Plan. Italy Has Received...

The Bank of Italy raised its inflation forecasts for the next three years on the continuing increase of energy costs and more pronounced wage growth in 2024, according to its latest macroeconomic projections. Consumer prices are seen increasing 8.8% this year and 7.3% next year, from previous forecasts of 8.5% and 6.5% respectively Economic output was revised upwards to 3.8% this year and 0.4% next year, from previous forecasts of 3.3% and 0.3%

Want to solve the retirement crisis? Here’s a start. More employers are automatically enrolling their employees in retirement accounts, and they’re contributing a higher percentage of their employees’ salaries to do so. That’s a good thing, considering so many Americans are unprepared for retirement. About 35% of employers are enrolling new workers in 401(k) plans, according to 2019 fourth quarter data from Fidelity Investments, which analyzes its customers’ investing and saving trends....