Italy's one-year funding costs plunged to the lowest level since the introduction of the euro as the European Central Bank's rate reduction boosted demand for debts with higher return.
At an auction on Friday, the treasury raised EUR 7 billion of 365-day bills at a cost of 0.70 percent. The yield declined from 0.92 percent at a similar issue in the previous month.
Investors bid for 1.16 times the amount offered, but slightly down from 1.64 times last month. The treasury also sold EUR 3 billion flexible T-bills, with 219 days left for maturity.
The ECB last week reduced the main refinancing rate by 25 basis points to a record low 0.50 percent. The previous change in euro area interest rates was a quarter-point reduction in July 2012.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.