Bank of Italy revises down GDP estimates

(ANSA) - Rome, December 9 - The Bank of Italy on Friday revised downward its Italy GDP growth estimates in the wake of the Brexit, from +1.1% to +0.9% this year and from +1.2% to +0.9% in 2017.
    Italy's GDP should grow by +1.1% in 2018 and 2019, according to the Italian central bank's macroeconomic estimates.
    The revised forecasts "mainly reflect less favorable hypotheses on foreign demand and interest rates on international markets", but not the effects of last Sunday's referendum nor the European Central Bank's decision to extend its Quantitative Easing (QE) programme throughout 2017, the BoI said.