MILAN - Italy is set to grow at a 1.1% rate both this year and in 2024, the International Monetary Fund said on Friday, raising its previous forecasts for the euro zone's third largest economy.

In its Article IV Mission conclusions, the IMF warned Rome that introducing a windfall tax on bank earnings might lead to "unintended consequences", tending to reduce interest rates on deposits while raising the costs of loans.

(Alessia Pé, editing by Gavin Jones)