Italy's Draghi on financial market integration

In the speech 'Financial market integration and the intermediation of savings' given on 4 March Mario Draghi of the Bank of Italy said interest rate levels were "very relaxed" after the ECB lifted rates for a second time in three months.

Draghi said that the ECB had earned credibility in fighting inflation that would help underpin growth.

``This credibility is precious and needs to be preserved,'' Draghi said. ``It is the reason, especially in the euro area, why monetary conditions continue to be

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