News Headline Summary

Germany's Bundesbank cuts German 2013 GDP forecast to 0.4% from 1.6%

- Sees German 2014 growth at 1.9%.
- Risks to economic outlook are on downside.
- German economy will shrink in Q4, stagnate in Q1.
- Sees inflation at 2.1% in 2012 and 1.6% at 2014.

Reaction details:

Withing 2 minutes of the release:
- EUR/USD moved lower from 1.2964 to 1.2947
- Mar Bund edged higher from 145.65 to 145.73
- Dec Dax moved lower from 7545 to 7534

Print 07:30, 07 Dec 2012 - Economic commentary - Source: Newswires