French economy still on track for 5% growth this year – Bank of France

The French economy remains on track to expand 5% in this year despite the coronavirus crisis, the latest forecasts from the Bank of France showed on Tuesday.

The European Central Bank (ECB) policymaker and Bank of France Governor Francois Villeroy de Galhau said: “I can confirm our forecast for 5% growth for the whole of 2021. It's robust and rather cautious while reflecting of course the great uncertainty around the health situation.”

The central bank estimated that the economy is operating down 5% from pre-crisis levels in February, unchanged from January.

EUR/USD stays below 1.2100

EUR/USD keeps moderate gains while trading around 1.2080, at the time of writing. The US stimulus optimism continues to weigh on the safe-haven US dollar, boding well for the main currency pair.