According to s survey of more than 40 economists conducted by Reuters, the Chinese economy is likely to have halved in the first quarter of 2020 when compared to the final quarter of 2019, which is likely to prompt earlier interest rate cuts. Key findings: “Forecast growth to fall to a median of 3.5% this quarter from 6.0% in the fourth quarter of 2019, a full percentage point lower than predicted in a Feb. 14 poll. The range of views was wide, from two banks saying no growth at all to one saying 5.0%. Under a worst-case scenario, the median forecast for Q1 was 2.4%, compared with 3.5% in the previous poll – essentially meaning the worst-case view from three weeks ago is now the central scenario for private sector economists. Growth is still expected to bounce back in Q2, to 5.6%, slightly lower than the 5.7% forecast three weeks ago. But even there, the range of forecasts was wide, 3.7%-6.5%. The People’s Bank of China is now forecast to reduce the one-year loan prime rate (LPR) the benchmark lending gauge it introduced in August 2019, to 3.85% from the current 4.05% by the middle of year. Previously it was not expected to fall that far until the first quarter of 2021.” 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 EUR/USD Price Analysis: Off 7-month highs after bullish daily close FX Street 3 years According to s survey of more than 40 economists conducted by Reuters, the Chinese economy is likely to have halved in the first quarter of 2020 when compared to the final quarter of 2019, which is likely to prompt earlier interest rate cuts. Key findings: “Forecast growth to fall to a median of 3.5% this quarter from 6.0% in the fourth quarter of 2019, a full percentage point lower than predicted in a Feb. 14 poll. The range of views was wide, from two banks saying no growth at all to one saying 5.0%. Under a worst-case scenario, the median… 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.