10 July 2001, 13:50 DIW institute cuts German GDP forecast, urges ECB to cut rates
Berlin, July 10 (BridgeNews) - Presenting the lowest economic growth
forecast issued by a leading research institute so far, Berlin-based
think-tank DIW lowered its German economic growth outlook to 1.0% for this
year from 2.1% and to 2.3% for next year. As measurements to stimulate
growth, the institute urged the European Central Bank to cut interest
rates while euro-zone countries should accept higher deficits because a
"rigid holding on to agreed deficit targets would provoke a recession."
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