Top China Economist Sees Possible Interest Rate Cut Next Quarter
- Ping An’s Zhong says PBOC to face less constraints in 2Q
- Core inflation likely to be under control in 2023, Zhong says
The People's Bank of China (PBOC) building in Beijing.
Source: Bloomberg
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China’s central bank may have more room to cut interest rates in the second quarter as the risk of another Covid wave looms in coming months and the US Federal Reserve ends its interest rate hikes, according to a prominent Chinese economist.
The People’s Bank of China could face less constraints on easing policy in the next quarter, said Zhong Zhengsheng, chief economist at Ping An Securities Co., adding that domestic inflation will likely stay weak. Zhong has previously consulted with Premier Li Keqiang on government policy.