German central bank cuts growth forecasts for 2013 and 2014

Germany's central bank has cut its growth forecast for the country, but says the outlook for the economy has "become brighter".

The Bundesbank expects the economy to grow by 0.3% this year, down from an earlier forecast of 0.4%.

In 2014, it expects 1.5% growth, down from a previous estimate of 1.9%.
The Bundesbank suggested that the worst could be over for the eurozone, saying that in the euro area "the economy appears to be bottoming out".

Read more... Rate boost