“In the short term, inflation could rise even further despite interest rate hikes,” she said.
Schnabel went on to say that a “German recession may be unavoidable” while adding that “the euro-zone economy is likely to stagnate not shrink.”
EUR/USD is consolidating the latest leg down to fresh 19-year lows of 0.9809. The pair was last seen trading at 0.9824, down 0.11% on the day.
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