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UniCredit CEO sees "shallow" recession ahead

FILE PHOTO: UniCredit's new CEO Andrea Orcel pictured in 2013

FRANKFURT (Reuters) - UniCredit Chief Executive Andrea Orcel said on Wednesday Italy's second biggest bank expected a "relatively shallow" recession in Europe followed by a rebound in 2024.

Speaking at a financial conference in Frankfurt, Orcel said the European Central Bank was in a difficult position having to strike the right balance between fighting inflation "without killing the economy".

(Reporting by Tom Sims in Frankfurt and Valentina Za in Milan; editing by Agnieszka Flak)