Italian banking data to show further easing of lending rates, official says
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MILAN, Oct 11 (Reuters) -Data on bank lending rates to be released on Saturday will show further progress on the easing of monetary conditions which has been ongoing for a while, a senior official at Italian banking association ABI said.
Speaking at a conference organised in Milan by Prime Minister Giorgia Meloni's Brothers of Italy party, ABI Deputy Director General Giancarlo Torriero said Italian banks had started lowering lending rates before the European Central Bank kicked its current easing cycle in June.
"We'll publish our monthly bulletin tomorrow and I think we'll see a further reduction in rates," he said.
ABI's data on Saturday will cover the month of October.
"For the past six months, actually from December, we've seen that banks started passing through the reduction in market rates on their long-term loans. Mortgage loan rates have been going steadily down," Torriero added.
Reporting by Valentina Za
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