Possible impact from non-EU financial developments - Visco

(ANSA) - ROME, MAR 20 - Bank of Italy Governor Ignazio Visco said Monday Italy may face possible impacts from financial developments outside the European Union such as the collapse of Silicon Valley Bank and the rescue of crisis-hit Swiss ban Credit Suisse.
    "The financial developments that have occurred outside the euro area may have an impact and represent a further element of uncertainty even though the economy has shown resilience beyond expectations", he said at the presentation of the new Affari&Finanza of the daily newspaper La Repubblica.
    But he said Italian banks would not feel the fall-out from the Credit Suisse rescue.
    "Credit Suisse's problems did not escape the radar. We in Europe have all the tools to cope with liquidity crises and we do not detect capitalisation and liquidity problems in our banks", Visco stressed.
    "Bringing inflation back to 2% must be our guiding star," said Visco.
    He said "the direction on rates is clear, and the trend certain even if it is necessary to act prudently and assess case by case or as we say in the communiqués, meeting by meeting, on the basis of available data," he said after the Euroepan Central Bank last Thursday hiked rates by 50 basis points but did not mention other possible rate hikes in its future strategy to curb inflation. (ANSA).