Central Banking

Bundesbank cuts growth forecast

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The Bundesbank has cut its growth forecast for 2003 to between 0.1 and 0.2 per cent, down from 0.5 per cent. The move follows weak growth for the first three months of this year.

Source: Reuters

The German Bundesbank has downgraded its growth forecast for 2003, in a move likely to create further embarrassment for the government.

The Bundesbank revised its latest growth forecast for 2003 to between 0.1 and 0.2 per cent, down from 0.5 per cent.

The revision puts further pressure on Chancellor Gerhard

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