‘A big mistake’: The ECB is ‘hell-bent’ on rate hikes despite recession risks, senior economist warns

Italia

The European Central Bank would be making "a big mistake" by hiking interest rates in a bid to combat inflation, according to one senior economist, who warns that such a move risks tipping the continent into recession. Holger Schmieding, chief economist at Berenberg, said Europe's key "big three" economies — Germany, France and Italy — have been weakened by the recent spike in energy costs, leading to a stagflationary environment on the continent. Butm with new PMI data indicating weakening

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