Bundesbank: German economy to shrink by 5.5% in 2020 vs. -7.1% seen in June

Sees German economy shrinking by 5.5% on calendar adjusted basis this year vs 7.1% drop seen in June.

Expects German economy to grow by 3.0% in 2021 vs 3.2% seen in June.

Bundesbank projects 2022 German growth at 4.5% vs 3.8% in June.

Bundesbank sees German HICP inflation at 1.8% in 2021 vs 1.1% seen in June and 1.3% in 2022 vs 1.6% seen in June.