France's central bank trims economic growth forecast

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The Bank of France announced Thursday it has revised downwards its growth forcasts for 2018 and 2019 to 1.5%, instead of a previous prediction of 1.6%, but did not include 10 billion euros in tax cuts brought forward to next year and extra spending announced this week by President Emmanuel Macron in a major concession to protestors demanding higher living standards for low- and middle-income earners.

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The French economy is set to grow slightly less than previously expected this and next year, the central bank said on Thursday, warning the longer protests which have swept the country drag on the more they would weigh on activity, reports Reuters.