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Euro zone recession not a foregone conclusion, ECB's Knot says

11/28/2022 | 03:54am EST
FILE PHOTO: G20 Summit in Indonesia

FRANKFURT (Reuters) - Euro zone economic growth may turn negative this quarter but a recession is not a given since some economic data, particularly in Germany, have surprised on the upside, European Central Bank policymaker Klaas Knot said on Monday.

"If you look at Germany, where actually the economy is doing better than then was feared, it's not a foregone conclusion that we will get a recession," Knot told a conference in Paris.

"We will get weaker growth, that's for sure," Knot, an outspoken policy hawk, said. "But we also need weaker growth to bring inflation back to target."

(Reporting by Balazs Koranyi, Editing by William Maclean)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.24% 0.65414 Delayed Quote.2.22%
BRITISH POUND / EURO (GBP/EUR) 0.07% 1.14006 Delayed Quote.0.59%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.35% 0.691773 Delayed Quote.-0.79%
INDIAN RUPEE / EURO (INR/EUR) 0.27% 0.011295 Delayed Quote.-0.49%
US DOLLAR / EURO (USD/EUR) 0.34% 0.921014 Delayed Quote.-2.00%
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