German banks says economy faces steep recession if Russian oil and gas were to be cut off

• Sees German growth of 2% this year
• But there are considerable risks
• The situation would be even worse if Russian oil and gas supplies were to be halted
• A significant recession in Germany would then be unavoidable
• Calls on ECB to end asset purchases and signal start of rate hikes

Again, no surprises that Germany is the one making this call but well, they have to look after their own interests. At the end of the day, self-preservation is still the most key aspect in politicking. As for their call for the ECB to tighten policy, I'm afraid it isn't going to do anything to fend off inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures but they themselves know that very well.