- latest report from the leading German economic institutes cuts 2013 GDP forecast to +0.8% from 1% prev
- 2014 GDP +1.9%
- HICP +1.9% 2013 +2.1% 2014
- not in favour of ECB interest rate cut as it would delay structural adjustments in banking sector
- says Europe should aim to move its banking supervisory body away from ECB
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Leading German institutes see lower GDP and wants interest rates on hold
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