UK markets closed
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • FTSE 250

    17,168.34
    +377.94 (+2.25%)
     
  • AIM

    806.38
    +7.99 (+1.00%)
     
  • GBP/EUR

    1.1381
    +0.0057 (+0.50%)
     
  • GBP/USD

    1.1166
    +0.0043 (+0.38%)
     
  • BTC-GBP

    17,211.48
    -158.54 (-0.91%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • DOW

    28,725.51
    -500.10 (-1.71%)
     
  • CRUDE OIL

    79.74
    -1.49 (-1.83%)
     
  • GOLD FUTURES

    1,668.30
    -0.30 (-0.02%)
     
  • NIKKEI 225

    25,937.21
    -484.84 (-1.83%)
     
  • HANG SENG

    17,222.83
    +56.96 (+0.33%)
     
  • DAX

    12,114.36
    +138.86 (+1.16%)
     
  • CAC 40

    5,762.34
    +85.47 (+1.51%)
     

ECB's Lane sees euro area slowdown, does not rule out technical recession

·1-min read
FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York

MADRID (Reuters) - The euro zone's economy is likely to experience an economic slowdown, European Central Bank's chief economist Philip Lane said on Tuesday, adding however that he did not rule out a mild, temporary and technical recession.

Lane told Spanish broadcaster TVE that the ECB should raise interest rates on a step-by-step basis. The institution raised rates by 50 basis points to zero in July.

While a similar move was expected in September until very recently, a host of policymakers have made the case for a larger hike due to the worsening inflation outlook.

(Reporting by Jesús Aguado and Emma Pinedo; editing by)