World Economy/Italy

🇮🇹

Italy

ITA

Europe • Sovereign Currency: EUR

Analyze Italy with Schema AI

Nominal GDP

$2.33T

2024

Annual GDP Growth

+0.6%

YoY Q3 2024

Inflation (CPI)

1.1%

Oct 2024 YoY

Policy Rate

3.25%

ECB Deposit Rate

10Y Sovereign Yield

3.65%

10Y BTP

Unemployment Rate

6.2%

Sep 2024

Debt-to-GDP

137.3%

2024

Trade Balance

+$4.8B

Sep 2024

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇮🇹EUROPEAN CENTRAL BANK POLICY DASHBOARD

Target Instrument: Deposit Facility Rate • Sovereign: Italy (ITA)

STANCE: neutral

Next Meeting: 2026-10-29

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

3.25%Unchanged (0 bps)

Deposit Facility Rate

REAL CARRY SPREAD (r - π)

+2.15%

Restrictive Drag

OVERNIGHT BENCHMARK (€STR)

3.20%-5 bps

Euro Short-Term Rate

YIELD CURVE SLOPE (10Y - r)

+0.40%

Normal Upward Slope

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 YoY

Subdued inflation pressure tracking below target baseline

IstatRef

1.10%

IN LINE

Distance to Inflation Target (2.0%)Oct 2024 YoY

Inflation below 2% target anchor by 0.90 percentage points

IstatRef

-0.90%

MILD LOOSE

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024

Sluggish real economic momentum

IstatRef

0.60%

MILD TIGHT

Unemployment Rate (Labor Slack)Sep 2024

Elevated civilian labor slack exerting downward wage pressure

IstatRef

6.20%

IN LINE

FINANCIAL CONDITIONS4 METRICS

Deposit Facility RateECB Deposit Rate

Official statutory policy target rate set by European Central Bank

European Central BankRef

3.25%

LOOSER

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

European Central Bank vs Istat

+2.15%

LOOSER

10-Year Sovereign Benchmark Yield10Y BTP

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

Bank of Italy / MTSRef

3.65%

LOOSER

Yield Curve Slope (10Y - Policy Rate)Calculated

Upward-sloping normal term structure (+0.40%)

Sovereign Debt Desk vs Central Bank Target

+0.40%

LOOSER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024

Trade balance surplus reinforcing sovereign foreign exchange buffer

IstatRef

+$4.8B

MILD LOOSE

General Government Debt / GDP2024

High public debt burden consuming fiscal policy maneuverability

Bank of Italy / EurostatRef

137.30%

TIGHTER

HISTORICAL RATE DECISION TRAJECTORY (DEPOSIT FACILITY RATE)

Verified Chronological Decisions

2026-10-09

3.25%

Policy Assessment Summary: Key ECB interest rate on the deposit facility.