In the first six months of this year, when policy rates had not yet been changed but tightening expectations were already being incorporated, at least in part, into market rates, Italian banks' net interest income rose by 9 per cent compared with the same period a year earlier.
A growing body of cross-country evidence confirms that policies to promote competition in Europe’s markets for goods and services clearly raise the potential for growth and job creation at little or no cost to the public purse. Continued efforts to promote stronger competition and further market integration within Europe are important tools for enhancing the global competitiveness of European firms.