French FinMin Le Maire: Stimulus top-up decision likely in September

The government may decide on whether to top up its 100 billion euro ($120 billion) economic stimulus plan in September, French Finance Minister Bruno Le Maire said on Thursday.

Key quotes

"Time for decisions will come in September. In September, we will see what sort of economic situation France and Europe are in and we will see whether some budgets need extra spending because the economic situation merits it.”

“The money had helped France see stronger economic growth than most other eurozone economies in the first quarter when the French economy grew 0.4% despite various COVID restrictions.”

“That gave confidence that a growth target of 5% for this year could be met.”

Market reaction

EUR/USD is extending its bounce towards 1.2050, underpinned by strong German Factory Orders, upbeat comments from the European Commission President Ursula von der Leyen and broad-based US dollar weakness.