6/21, 11:13 AM (Source: TeleTrader)
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Deutsche CEO: Europe, US facing recession

Deutsche Bank Chief Executive Christian Sewing warned on Tuesday that there's a high chance the United States and the European Union will face a recession in the upcoming years.

"There is no doubt that the probability of a recession in Germany and Europe in 2023 or later is higher than we have seen it in any of the previous years," Sewing said in an interview with CNBC.

The US and the EU registered record-high inflation figures in the past months, prompting monetary authorities to speed up the pace of interest rate hikes in response.

Baha Breaking News (BBN) / ND