Thursday, July 3, 2008

Italy's Confindustria Head Says Worried By ECB Rate Hike

ROME (MF-Dow Jones)--The head of Confindustria, Italy's industry lobby, said Thursday's ECB rate hike could pose problems to growth and overall costs amid a general economic slowdown.

"We are worried about that," Emma Marcegaglia said on the sidelines of a parliamentary hearing in Rome, commenting on the ECB's decision to raise its key interest rate 25 basis points to 4.25%.

-By Gugliemo Valia, with MF-Dow Jones, and Giada Zampano Dow Jones Newswires, +39 02 5821 9907; giada.zampano@dowjones.com

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