Lagarde: "the risk of recession has increased"
Speaking at the European Banking Congress in Frankfurt on Friday, ECB President Christine Lagarde said, "Inflation in the euro area is far too high" and that "the risk of a recession has increased," though "a recession is unlikely to bring down inflation significantly". As such, she said, "We expect to raise rates further," referring to the European Central Bank. The tightening of borrowing conditions is negatively affecting the stock prices of European companies.
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