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Bank of France cuts 2022 growth expectations to 2.3% from 3.4%

Mohamed Abdelhamid 21 June, 2022 8:30 pm Forex Market, Market Update

The Bank of France announced on Tuesday that it cut the growth forecast for 2022 to 2.3% from 3.4%. In 2023, the central bank expects the French economy to expand by 1.2%, compared to 2% in its previous forecast.

The EUR/USD pair reacted by losing its traction and erased a portion of its daily gains after this news report. The pair is trading at 1.0530, where it was still up 0.2% on a daily basis.

The Bank of France raised its inflation outlook to 5.6% in 2022 and to 3.4% in 2023, from 3.7% and 1.9%, respectively.

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