The euro zone's economy is likely to experience an economic slowdown, European Central Bank's chief economist Philip Lane said today.
Professor Philip Lane added that he did not rule out a mild, temporary and technical recession.
He 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.
