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JPM Asset Mgmt: PBOC May Cut Interest Rate & RRR after CNY
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China's GDP growth picked up impressively to 5.4% in 4Q24, driving full-year GDP growth to 5%, given the recent consumption and investment stimulus measures, paired with companies exporting ahead of potential U.S. tariffs, said Chaoping Zhu, Global Market Strategist at J.P. Morgan Asset Management based in Shanghai. However, he alerted that, while economic activity has rebounded, market confidence remains challenged. Ongoing feebleness in real estate and credit demand suggested that the market remains relatively cautious. Looking ahead, the broker expected the People's Bank of China (PBOC) to lower the reserve requirement ratio (RRR) and policy rate after the Lunar New Year holiday, and anticipated the National People's Congress in early March to announce a series of fiscal support policies, which are expected to play a key role in managing expectations and ensuring the sustainability of the economic recovery. AAStocks Financial News |
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