Italy Banks TaxAugust 2023
The Italian cabinet approved on August 8, 2023 a new one time 40% on banks' excess income in 2023.
The new tax is expected to reduce taxes and assist mortgage payers.
The new tax is expected to reach several billion euro, equals to 19% of the banks' annual income.
Italy expected inflation in 2023June 2023
The annual inflation rate in Italy fell to 6.4% in June of 2023, (the lowest in 14 months).
Italy Credit Rating DowngradeOctober 2018
Moody's credit rating agency downgraded on October 19, 2018 Italy's credit rating from previous Baa2 to Baa3 while changing the outlook from previous negative to stable.
The downgrade follows worries about the planned budget deficit defying the EU budget rules.
Italy Credit Rating DowngradeMarch 2013
Fitch credit rating agency downgraded on March 8, 2013 Italy's credit rating by one step, from previous A- down to BBB+ with a negative outlook.
The downgrade follows the inconclusive results of the Italian elections which make it difficult to form a stable government in the coming weeks.
Italy Credit Rating DowngradeJuly 2012
Moody's credit rating agency downgraded on July 13, 2012 Italy's government bond rating by two steps, from previous A3 down to Baa2, just two steps above the junk rating.
The present downgrade is the second within five months. The previous downgrade by Moody's was in February 2012 together with Spain and Portugal.
Italy's Credit Rating DowngradeOctober 2011
Fitch credit rating agency downgraded on October 7 Italy's credit rating from AA- to A+ with a negative outlook.
The downgrade by Fitch follows previous downgrades by Moody's on October 4 and by Standard& Poor's on September 19.
Italy's Economic IndicatorsApril 2011
The Italian Statistics office, Istat, released updates of the Italian economy in February.
In February 2011 the producer price index increased by 0.5% compared to January 2011 and by 5.3% compared to February 2010.
Istat estimates that 22.8 million people were employed.
The unemployment rate for February was 8.4%.
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