“At the moment, we don’t see a recession in the eurozone,” the European Central Bank president told ‘Bloomberg Television’ from the World Economic Forum in Davos, Switzerland.
(Boursier.com) — After a 1.2% jump on Monday, the euro remained well oriented against the greenback on Tuesday, ending the day with a gain of 0.42% to $1.0735 between banks, at most high for 4 weeks. Christine Lagarde rejected the idea that the euro zone is heading for a recession.
“At the moment, we don’t see a recession in the euro zone,” the president of the European Central Bank told ‘Bloomberg Television’ from the World Economic Forum in Davos, Switzerland. “We don’t have that as a baseline.” The leader believes that unemployment “at low rates”, high household savings and the prospect of a strong summer for the tourism industry will offset the negative shocks linked to the war in Ukraine and the surge in inflation .
24 hours after saying that the ECB was likely to start raising interest rates in July and move them into positive territory by the end of September, the leader refused to discuss a possible tightening of 50 basis points: “when you are no longer in negative, you can be at zero, you can be slightly above zero… This is something that we will determine based on our projections, on the basis of our predictions.
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