Economists at Standard Chartered Bank have updated their Chinese growth forecast cutting it though they expect a recovery in Q2 as coronavirus will be contained by March. USD/CNY is sitting at 6.989. Key quotes “We cut our 2020 growth forecast to 5.5% from 5.8% to reflect a longer delay in production.” “The government may set its 2020 growth target at around 6%, while allowing flexibility in measuring growth performance. Fiscal support may be substantial, with aggressive budget implementation and a greater focus on infrastructure spending.” “Our core scenario is that coronavirus will be contained by late March, paving the way for a Q2 recovery.” “If the epidemic is not contained by end-March as our base case assumes, the central bank may consider cutting the benchmark deposit rate.” 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 PBOC widely expected to slash lending benchmark LPR – Reuters poll FX Street 2 years Economists at Standard Chartered Bank have updated their Chinese growth forecast cutting it though they expect a recovery in Q2 as coronavirus will be contained by March. USD/CNY is sitting at 6.989. Key quotes “We cut our 2020 growth forecast to 5.5% from 5.8% to reflect a longer delay in production.” “The government may set its 2020 growth target at around 6%, while allowing flexibility in measuring growth performance. Fiscal support may be substantial, with aggressive budget implementation and a greater focus on infrastructure spending.” “Our core scenario is that coronavirus will be contained by late March, paving the way… Regulated 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.
