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Germany's IfW predicts 0.5% GDP growth in 2023 amid stubbornly high inflation

In its spring forecast released on Wednesday, Germany's IfW economic institute raised its growth forecast for 2023 from 0.3% to 0.5%.

Additional takeaways

“The German government is predicting growth of 0.2%. For 2024, the institute upgraded its growth forecast from 1.3% to 1.4%.”

"The German economy is struggling to emerge from the energy crisis.”

"The economic consequences of the war in Ukraine have stalled the recovery from the pandemic and noticeably depressed the level of gross domestic product."

“Consumer prices are set to rise by 5.4% this year, and by 2.1% in 2024.“

"High inflation is reducing households' disposable incomes and leading to a decline in private consumer spending in the current year."

EUR/USD could head up to the 1.08 area should equities settle down a little – ING

EUR/USD touched a fresh multi-week high of 1.0760. The world's most popular pair could test the 1.08 level, economists at ING report. Settling in for
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GBP/JPY sticks to gains near weekly high, just below 164.00 mark ahead of UK budget

The GBP/JPY cross builds on this week's solid bounce from the 160.00 psychological mark, or a one-month low touched earlier this week and gains tracti
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