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Fitch Expects 2025 CN Econ Growth to Slow to 4.5%, PBOC to Cut Rates Again Soon
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Rating agency Fitch released its latest global economic outlook report expecting that China's economic growth will slow next year to 4.5% from 4.8% this year as rapid export growth eases in China, and that the People’s Bank of China (PBOC) may soon cut interest rates again. Fitch believed that the Fed's upcoming rate-cutting cycle will be mild and slow, as services inflation in the US is still too high. Fitch raised its US economic growth forecast for 2024 to 2.5% from 2.1% in June, and forecasts for the UK, Brazil and Russia have also been revised upwards, with the global economy expected to grow by 2.7% this year, 0.1 ppt higher than the previous forecast. AAStocks Financial News |
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