Bundesbank cuts 2020 German growth forecast, EUR/USD unfazed around 1.1165
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In its monthly economic assessment report, Germany’s central bank, Bundesbank (Buba), slashed the German growth and inflation forecasts for 2020.
Key Details:
Sees German GDP at +0.5% in 2019 versus +0.6% in June forecast.
Sees German GDP at 0.6% In 2020 versus 1.2% In June forecast.
Sees German GDP at 1.4% In 2021 versus 1.3% In June forecast.
The shared currency shrugs-off the downbeat forecasts, as EUR/USD consolidates the retreat from four-month tops near the 1.1160 region.
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