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UBS Expects CN Econ to Stabilize QoQ in Coming Quarters, USD/ CNY to Be 7.1 at End-yr
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Exports YoY growth rose to 8.7% in August, compared with 7% in July and the market consensus of 6.6%, Wang Tao, head of Asia Economic Research and chief China economist at UBS Investment Bank, said. At the same time, Wang added that UBS' US economic team believes that the US economy is slowing down, but will not go into recession. The US Fed will cut interest rates for the first time in September, and China's economy is expected to stabilize QoQ in the next few quarters. Wang recently adjusted its year-end USD/ CNY forecast to 7.1 from the prior forecast of 7.1-7.2. AAStocks Financial News |
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