ContextAddress by Ignazio Visco, Governor of the Bank of Italy, at the 99th World Savings Day, organised by the Association of Italian Foundations and Savings Banks (ACRI), Rome, 31 October 2023.
Why it mattersVisco promotes financial education as an investment in human capital.
Problems raised
Savings are key for a country's development but must be well invested.
Many people lack financial skills.
Financial innovation and digitalisation create new risks.
Solutions proposed
Promote financial education as an investment in human capital.
ContextOpening address by Ignazio Visco, Governor of the Bank of Italy, at the "SSM Regulation, ten years since" conference, organised by the Bank of Italy in cooperation with the University of Rome "Roma Tre" and the Paolo Ferro-Luzzi "Grandangolo" Research Centre, Rome, 20 October 2023.
Why it mattersVisco reviews the legal basis of common bank supervision and its limits.
Problems raised
The sovereign debt crisis revealed weaknesses in bank supervision.
Banking stress was severe after the global financial crisis.
Legal foundations of the SSM face future challenges.
Solutions proposed
Build on the Single Supervisory Mechanism created under Article 127(6).
ContextWritten statement to the World Bank and IMF Development Committee in Marrakech for a group of countries; the Bank of Italy safeguards stability and represents its constituency in global forums.
Why it mattersVisco's statement focuses on resilience to natural disasters.
Problems raised
Global growth will slow markedly in 2023 and 2024.
Climate shocks and geopolitical tension could push food and energy prices up.
Countries must become more resilient to extreme natural events.
Solutions proposed
Strengthen resilience to natural disasters.
Support the World Bank's evolution to tackle global challenges.
Coordinate international policies to limit downside risks.
ContextSpeech at the annual meeting of the Italian Banking Association in Rome; the Bank of Italy safeguards price and financial stability and supervises banks during rate rises.
Why it mattersVisco discusses ending asset purchase reinvestments as inflation stays high.
Problems raised
Inflation in the euro area is too high.
Banks face higher rates and risks.
Economic data remain uncertain.
Solutions proposed
Stop reinvestments under the asset purchase programme.
ContextWelcome address by Ignazio Visco, Governor of the Bank of Italy, at the 3rd Finance and Productivity Conference, "Green Deal - reformation, evolution, and revolution", Rome, 8-9 June 2023.
Why it mattersVisco links research on productivity to the climate shift.
Problems raised
The green transition requires major economic changes.
Economies must become more resilient to climate shocks.
ContextWritten statement to the World Bank and IMF Development Committee in Washington for a group of countries; the Bank of Italy safeguards stability and represents its constituency in global forums.
Why it mattersRome's statement backs multilateral aid to Kyiv after the invasion.
Problems raised
Russia's aggression shakes the world.
Learning losses and weak investment constrain growth.
ContextSpeech at the IARIW-Bank of Italy conference on central banks, financial markets and inequality; the Bank of Italy safeguards price stability and studies how inflation affects inequality.
Why it mattersVisco examines how inflation and monetary policy affect inequality.
Problems raised
Inflation affects inequality.
Monetary policy has distributional effects.
Measuring inequality is hard.
Solutions proposed
Study links between monetary policy and inequality.
ContextText of the Robert Mundell Distinguished Address by Ignazio Visco, Governor of the Bank of Italy, at the 95th International Atlantic Economic Conference, Rome, 23 March 2023.
Why it mattersVisco warns about wage-price spiral risks and high public debt.
ContextText of the Bishnodat Persaud Lecture by Ignazio Visco, Governor of the Bank of Italy, at the Warwick Economics Summit 2023, University of Warwick, Coventry, 11 February 2023.
Why it mattersVisco reviews the return of inflation after decades of stability.
ContextRemarks at an OMFIF virtual dialogue; the Bank of Italy safeguards price and financial stability as Italy and the euro area face difficult times.
Why it mattersVisco discusses Italy's outlook as monetary policy normalises.
ContextAddress by Ignazio Visco, Governor of the Bank of Italy, at the 98th World Savings Day, organized by the Association of Italian Foundations and Savings Banks (ACRI), Rome, 31 October 2022.
Why it mattersVisco discusses savers in a year of rising rates.
ContextWritten statement to the World Bank and IMF Development Committee in Washington for a group of countries; the Bank of Italy safeguards stability and represents its constituency in global forums.
Why it mattersVisco's statement condemns the war and supports Ukraine.
ContextKeynote address by Ignazio Visco, Governor of the Bank of Italy, at the conference on "The multiple role of the central banks: new frontiers of the monetary policy", organised by the Fondazione CESIFIN and the Florence School of Banking and Finance of the European University Institute, Florence, 30 September 2022.
Why it mattersVisco explains why the euro area's inflation differs from America's.
ContextSpeech at the annual meeting of the Italian Banking Association in Rome; the Bank of Italy safeguards price and financial stability in a very uncertain period.
Why it mattersVisco discusses normalisation amid war-driven inflation.
ContextConcluding remarks by Ignazio Visco, Governor of the Bank of Italy, at a meeting for the presentation of the Annual Report 2021 - 128th Financial Year, Rome, 31 May 2022.
Why it mattersVisco reviews the first months of war, energy shocks and higher prices for households.
Problems raised
Russia's invasion is a dramatic watershed.
It caused a humanitarian crisis and new global tensions.
ContextWritten statement to the 105th World Bank and IMF Development Committee for a group of countries; the Bank of Italy safeguards stability and represents its constituency in global forums.
Why it mattersVisco's statement condemns the attack on the rules-based system.
Problems raised
Russia's aggression threatens the international system.
Human suffering is massive.
Developing countries face transfers of resources issues.
ContextRemarks at the ECB and Its Watchers conference; the Bank of Italy safeguards price stability and studies how monetary and fiscal policy interact.
Why it mattersVisco compares US and European policy mixes during the pandemic.
ContextWelcome address by Ignazio Visco, Governor of the Bank of Italy, at the 3rd Bank of Italy and Bocconi University conference "Financial stability and regulation", online event, 17 March 2022.
Why it mattersVisco discusses phasing out pandemic support.
ContextOpening remarks by Ignazio Visco, Governor of the Bank of Italy, at an event marking the conclusion of the first call for proposals by Milano Hub, Milano, 28 February 2022.
Why it mattersVisco presents projects using AI in banking and payments.
