Rate Hikes Needed to Reduce Eurozone Inflation Despite Recessi | ATAF - All True American Friendship 🇺🇸 🤝 🇺🇸 ️🤝 🇺🇸

Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession - Top ECB Official Says

Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week and revised projections showing higher than previously expected inflation in Europe ahead.

The lead indicators we have are not good. Our projections therefore expect the euro area to fall into a mild recession in the last quarter of this year and in the first quarter of 2023, when GDP is expected to contract by 0.1%.

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