“The quarter-point rate cut decided by the European Central Bank is a small relief. We expect, however, a new intervention in the coming months, in July or September, with another half-point cut. Unfortunately, inflation, which has reared its head a bit in the recent period, continues to be strongly penalizing. The hope is that any increase in wages can be absorbed by profits and not by prices, otherwise we will see inflation rising even faster.” Thus Moreno Zani, president of Tendercapital, among the most active independent international players in the asset management sector, spoke to RaiNews24 during the program “Specchio dei Tempi”.

“However, the intervention of the ECB remains significant,” Zani added, “the cut on current rates is certainly important for those with variable-rate mortgages. Those who will have to analyze attentively the trend of rates in the coming years will be, especially, businesses, when they make medium- or long-term investments. We think, in fact, that we will probably have to get used to seeing cuts between one and a half and two and a half with current price levels, so the assessments that will be made on long-term investments will also change. In any case,” he concluded, ”two or more cuts on short-term rates will help people who today are holding a variable-rate mortgage.

Watch Moreno Zani’s appearance on RaiNews24’s program “Specchio dei Tempi”