ECB governing council member Moulin said France’s Q3 activity unexpectedly
contracted and the Banque de France may need to lower its 2026 growth forecast.
The bank currently projects 0.4% growth for this year, but that would require
very strong Q4 expansion. Speaking at a Jeco meeting in Lyon, Moulin said the
current projection is somewhat optimistic and will likely be revised down
slightly. Banque de France plans to update its macro forecasts in December after
the ECB’s next rate decision.
