Germany, France central banks cut growth forecasts

Germany will grow at a slightly slower pace than previously expected, its powerful central bank predicted Friday as it cut its forecasts for Europe's top economy. The central bank of neighbouring France also turned more pessimistic on the growth outlook for the eurozone's second-biggest economy. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year, slowing to 1.4 percent in 2017.