While talking to Bloomberg TV, in Davos, President of the European Central Bank, Christine Lagarde, said the eurozone is at a “turning point” in monetary policy as it prepares to leave negative interest rates behind.
According to Lagarde, the ECB will likely witness a first interest-rate increase in July.
Denying the eurozone is heading into recession, she said, “We don’t have that as a baseline.”
According to experts, due to the war in Ukraine, Europe may be heading towards a recession especially if a ban on Russian energy is agreed upon.
Oxfam pushing for billionaire tax
Warning Davos of record-high food prices that are pushing millions into poverty, Gabriela Bucher, Executive Director of Oxfam International said billionaires are profiting from pain.
While talking about a global deal on minimum tax rates, Mathias Cormann, secretary-general, Organization for Economic Co-operation said, he is “optimistic” that Europe will implement the Pillar Two model rule—domestic implementation of 15% global minimum tax on multinationals.
