Meloni Criticizes the European Central Bank for Raising Interest Rates

Italian Prime Minister Giorgia Meloni criticized the European Central Bank for its repeated interest rate hikes, stating that it "follows an overly simplistic approach that could do more harm than good." She told Parliament: "It is right to combat inflation decisively, but for many people, the simplified recipe of raising interest rates that the European Central Bank follows does not seem to be the right path." The European Central Bank raised interest rates to their highest level in 22 years this month, as it expects inflation to remain above the targeted level of 2% until the end of 2025.