89830
German Cabinet Warned of Economic Risks
German Cabinet Warned of Economic Risks

German Cabinet Warned of Economic Risks

German Cabinet Warned of Economic Risks

The chief of Germany’s central bank, Jens Weidmann, warned the government of increasing risks of the economy cooling when he spoke at a cabinet meeting, business newspaper Handelsblatt reported, citing government sources, Reuters reported. The Handelsblatt report came after the central bank, the Bundesbank, last month cut its growth forecast for this year and said trade and political concerns had made the outlook for Germany’s still robust economy more uncertain. In June, the Bundesbank forecast growth of 2% this year, far lower than the 2.5% it expected last December. Weidmann told the cabinet to prepare for harder times, Handelsblatt reported attendees of the meeting as saying after the central banker joined the session as a guest. Weidmann said the government would have to step in when the next downturn hits as it will take so long for the European Central Bank’s monetary policy to normalize that it would have little scope to act, the paper cited its sources as saying.

Short URL : https://goo.gl/VbyQXn
  1. https://goo.gl/YU87mS
  • https://goo.gl/eDhAub
  • https://goo.gl/GteP5Y
  • https://goo.gl/ypiQaS
  • https://goo.gl/V6CW7C

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus
German Cabinet Warned of Economic Risks | Financial Tribune

Error

The website encountered an unexpected error. Please try again later.