China's central bank upbeat on Q2 GDP growth, confident on 2023 targets
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BEIJING :China's economic growth is expected to be "relatively high" in the second quarter compared to the prior year, mainly due a low base of comparison, while consumer inflation is projected to be above 1 per cent by December, the central bank governor said.
As rising interests rates and inflation squeeze demand in the United States and Europe, China's core CPI has been soft and factory gate prices fell sharply in May, suggesting the world's second-largest economy is losing steam.
Some analysts have predicted the central bank may begin to cut key rates as soon as next week after a flurry of weak data highlighted the fragility of China's economic rebound.
