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ECB’s Lane Sees ‘Several’ More Interest Rate Increases Ahead

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The European Central Bank will increase interest rates “several” more times, according to Chief Economist Philip Lane.

The ECB is still in a phase of raising rates, he told Irish broadcaster RTE in an interview Saturday.

Citing his institution’s forecasts, Lane said a mild recession in the euro area can’t be ruled out.

The ECB this month tightened policy by a historic 75 basis points and Bundesbank Chief Joachim Nagel said earlier on Saturday that borrowing costs will need to rise a lot more to get inflation under control.

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