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)
