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Bank of France sees 'limited' cut to French economy next week

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Bank of France sees 'limited' cut to French economy next week
FILE PHOTO: European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank, attends the Paris Europlace International Financial Forum in Tokyo, Japan, November 19, 2018. REUTERS/Toru Hanai/File Photo   -   Copyright  Toru Hanai(Reuters)
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PARIS (Reuters) – The Bank of France expects to issue a relatively “limited” downgrade to its forecasts for the French economy next week, said Bank of France governor Francois Villeroy de Galhau on Friday.

Villeroy was not more specific regarding the extent of its likely downgrade when it updates its forecasts next week, but added he felt the French economy was proving to be relatively “resilient” in light of a general slowdown within the euro zone.

“Growth is proving to be more resilient and above the average of the euro zone for the first time in many years,” Villeroy told French radio station BFM Business.

The Bank of France currently has a forecast for French growth this year of 1.5 percent and the French government is forecasting economic growth of 1.7 percent for 2019.

(Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)

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