He served as Director General of the Bank of Italy from 1975 to 1976 and as Minister of Foreign Trade from 1976 to 1979.

[1][2] Rinaldo Ossola, after graduating in 1935 from Bocconi University in Milan and specializing in the London School of Economics and the Institute of Bankers, was hired by the Bank of Italy in December 1938.

[3] In the post-war years Ossola participated in the works that led to the creation of the currency compensation system in Europe and the establishment of the European payments union.

He participated in the meetings of the main international cooperation bodies and contributed to the design of the European Common Market.

Subsequently, he became head of the studies service for the international economy of the Bank of Italy (1964), Economic adviser of the same institute (1967) and Deputy Director General (1969).