Economy

The chief economist says the European Central Bank may raise interest rates next year

The chief economist says the European Central Bank may raise interest rates next year

DUBLIN (Reuters) – The European Central Bank may raise interest rates into next year, chief economist Philip Lane told Irish broadcaster RTE on Saturday, just weeks after raising the deposit rate back into positive territory.

โ€œOver the next several meetings, which could mean the latter part of this year as well as going into the first part of next year, if you wish, we think we are still at the stage of raising rates to what you might call what could be called a rate hike,โ€ Lane said.

Lane added that the Eurozone economy is likely to head to a flat line during the winter months and a recession cannot be ruled out due to high energy prices and energy shortages.

“If you think our base case is barely growth, technical stagnation — falling into a mild recession — cannot be ruled out,” he said in an interview.

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