ECB can safely raise rates out of negative territory, Visco says

May 20, 2022 10:11 AM EDT

European Central Bank Governing Council member Ignazio Visco looks on during an interview with Reuters, in Rome, Italy, May 31, 2021. REUTERS/Guglielmo Mangiapane

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KOENIGSWINTER, Germany (Reuters) - The European Central Bank can raise its benchmark interest rate out of negative territory without major economic consequences because financing conditions would still remain exceptionally easy, ECB policymaker Ignazio Visco said on Friday.

The Bank of Italy's governor was speaking to reporters after a meeting of the Group of Seven financial policymakers in Germany.

(Reporting By Francesco Canepa; Editing by Hugh Lawson)

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