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ECB’s Lane sees euro area slowdown, does not rule out technical recession

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ECB’s Lane sees euro area slowdown, does not rule out technical recession By Reuters

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Economy 4 minutes ago (Aug 30, 2022 09:56)

© Reuters. FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York, U.S., September 27, 2019. REUTERS/Gary He/File Photo/File Photo

MADRID (Reuters) – The euro zone’s economy is likely to experience an economic slowdown, European Central Bank’s chief economist Philip Lane said on Tuesday, adding however that he did not rule out a mild, temporary and technical recession.

Lane told Spanish broadcaster TVE that the ECB should raise interest rates on a step-by-step basis. The institution raised rates by 50 basis points to zero in July.

While a similar move was expected in September until very recently, a host of policymakers have made the case for a larger hike due to the worsening inflation outlook.

ECB’s Lane sees euro area slowdown, does not rule out technical recession

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