Bank of Italy's Visco: We Don't Need to Have a Recession

The transcript discusses the European Central Bank's (ECB) approach to adjusting interest rates, emphasizing a gradual reduction from 75 to 25 basis points per meeting. It highlights the importance of maintaining price stability without causing a recession and the need for a balanced approach based on incoming data. The discussion also covers the impact of unexpected events like the Ukraine war on inflation projections and energy prices. Additionally, it addresses concerns about the pace of bond portfolio reduction, advocating for a prudent and patient approach in monetary policy.

What is the speaker's perspective on the potential risks of monetary policy actions?

What does the speaker suggest about the pace of reducing the bond portfolio?