NEWS： The Central Bank of China is unlikely to cut interest rates in the first half of
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The Bank of Singapore Dahua reported Monday that China is expected to have room to lower its benchmark twice this year, but the People's Bank of China is unlikely to change its benchmark interest rate in the first half of the year.
According to the report, there is still room for further benchmarking, as the current reserve requirement ratio is still a long way from the low of 6% at the beginning of 2000. The Bank expects the benchmark to be lowered again in the second and third quarters. In addition, to maintain the stability of the RMB and limit capital outflow, it is unlikely that Pedestrians will lower the benchmark interest rate until the Fed suspends interest rate hikes; but in the second half, it is possible to cut interest rates, especially when the economic situation in the mainland is still under pressure.
Later on Friday, the People's Bank of China announced that it would reduce the reserve requirement ratio of financial institutions by a total of 1 percentage point in two times.
There are uncertainties in Sino-US trade negotiations, and now less than two months before the end of the trade truce, China's economic downward pressure continues. The report said that although China's manufacturing sector is facing trade tensions between China and the United States and structural changes resulting from cost, industry regulation and reform, the service sector is still the main driving force for economic development, and this trend is expected to continue. In addition, the positive measures taken by the Chinese government and the People's Bank since the middle of last year will provide good support for economic and commercial confidence. Therefore, the bank believes its forecast of 6.3% GDP growth in China this year still seems to be achievable.
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