"Overall growth this year should be above 6%," the Bank of Italy's head of economics Fabrizio Balassone told parliament in testimony on the government's 2022 budget this Tuesday.

Balassone added that the economic activity will keep growing in Q4 albeit at a slower rate than in the previous two quarters.

It’s worth noting that the Italian GDP rate grew by 2.6% in Q3 2021.

Market reaction

EUR/USD is off the highs, trading around 1.1260, up 0.23% on the day, as of writing.