Goldman Sachs stated on Tuesday that it predicts the euro zone economy to expand by 0.6% this year.

The Wall Street bank had predicted a 0.1% decrease for the country in Nov. A technical recession is often describe by two consecutive quarters of dropping GDP (GDP).

According to Eurostat figures released this week. The euro zone’s overall consumer price rise in December decreased as 9.2% against 10.1% a month ago.

Goldman anticipates the European Central Bank to maintain its hawkish stance and deliver 50 bps increases in Feb and Mar before easing to 25 bps for a final rate of 3.25% on May.

The U.S. bank anticipates another 100 basis points increase by the Bank of England even as UK labour market stays heated.