DBS Cuts China’s GDP Growth Forecast by Half Point to 4.8%

DBS Group Holdings cut its forecast for China’s economic growth for this year by 50 basis points to 4.8% as Covid lockdowns dampen consumption and put supply chains under further strain.

The central bank is showing increasing restraint amid a hawkish Federal Reserve, senior economist Nathan Chow wrote in a note Monday. Room for further reductions in the reserve requirement ratio for banks is narrowing, he said.