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24th Jul 2024 10:25China+Daily Monitor

  • The PBoC yesterday made an unscheduled 20bp MLF rate cut, following earlier policy rate cuts.
  • Policymakers are clearly worried about the H2 outlook, after Q2 GDP growth halved versus Q1.
  • Policymakers are likely to stress fiscal support to stabilise growth, but no mega-stimulus.

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Keywords for: 26 July 2024 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence