October 23, 2017 / 8:43 AM / 10 months ago

Italy to propose central bank governor on Friday: government source

ROME (Reuters) - Prime Minister Paolo Gentiloni’s government will propose its candidate for Bank of Italy governor at a Cabinet meeting on Friday, a government source said on Monday.

The Banca D'Italia (Bank of Italy) logo is seen at the headquarters in Milan, Italy, in this file picture taken January 19, 2016. REUTERS/Stefano Rellandini/Files

The ruling Democratic Party, led by former prime minister Matteo Renzi, has criticized current governor Ignazio Visco, whose six-year mandate is up for renewal at the end of the month.

The source denied reports in two Italian newspapers on Monday saying the government would propose a name early this week.

After consulting with the Bank of Italy’s supervisory board, the government proposes a name to President Sergio Mattarella, whose job it is to name the central bank chief. Mattarella favors renewing Visco’s mandate, government sources have told Reuters.

Reporting by Francesca Piscioneri, writing by Steve Scherer

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