China’s IP growth rebounded quickly to 3.9% y/y in April. Economists at Standard Chartered Bank maintain the Chinese Q2 GDP growth forecast of 3% y/y, and see further monetary easing by PBoC in Q2-Q3. Key quotes “The industrial sector continued to lead China’s recovery in April, with industrial production (IP) rising 3.9% y/y (Figure 1), beating the consensus growth estimate of 1.5%.” “Services production and retail sales continued to decline in April, but the pace eased to -4.5% y/y and -7.5% y/y, respectively. “We maintain our baseline GDP growth forecasts of 3% y/y for Q2 and average 2.5% for 2020.” “We expect the People’s Bank of China (PBoC) to deliver another broad-based 30bps cut in the reserve requirement ratio (RRR) in Q2 and a 50bps cut in Q3, a 25bps cut in the benchmark deposit rate in Q2, and another 10bps cut in the medium-term lending facility (MLF) rate in Q3.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil Price Forecast: WTI bulls wary of further upside ahead of next Tuesday’s expiry FX Street 2 years China’s IP growth rebounded quickly to 3.9% y/y in April. Economists at Standard Chartered Bank maintain the Chinese Q2 GDP growth forecast of 3% y/y, and see further monetary easing by PBoC in Q2-Q3. Key quotes “The industrial sector continued to lead China’s recovery in April, with industrial production (IP) rising 3.9% y/y (Figure 1), beating the consensus growth estimate of 1.5%.” “Services production and retail sales continued to decline in April, but the pace eased to -4.5% y/y and -7.5% y/y, respectively. “We maintain our baseline GDP growth forecasts of 3% y/y for Q2 and average 2.5% for 2020.”… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.