Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says – Finance Bitcoin News

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

conducted the same day but published by the French daily and the bank on Dec. 22, de Guindos acknowledged that the European economy is “perhaps in negative territory” during the fourth quarter of 2022. With GDP expected to contract by 0.2%, he elaborated: While growth projections published in December are similar to the estimates from September, those regarding inflation have changed substantially, pointed out the former economy minister of Spain. Expectations for inflation have been revised upward significantly, from 5.5% to 6.3% for 2023 and from 2.3% to 3.4% for 2024, de Guindos detailed.

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