Governor of the Bank of Italy and hence European Central Bank Governing Council member Fabio Panetta spoke on Saturday, saying that "the time for a reversal of the monetary policy stance is fast approaching." The ECB have already stopped raising rates, the last was in September when the Bank raised its interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility to 4.50%, 4.75% and 4.00% respectively. More: "What should be discussed now are the conditions to start monetary easing, while avoiding risks to price stability and unnecessary ... (full story)