Investors in financial markets were eyeing the release of important Chinese economic data this morning. This includes gross domestic product (GDP) Q1/22, industrial production in March. and retail sales in March The said information will be disclosed at around 9:00 a.m. Thai time.
Analysts in a Archyde.com poll forecast China’s Q1 GDP to grow 4.4 percent year-on-year. This is better than the 4% growth in 4Q21, but on a quarterly basis, China’s Q1 GDP is expected to grow only 0.6%, which is worse than the 1.6% growth in 4Q21.
China’s economy has been hit hard by the government’s strict measures to curb the spread of COVID-19. and lockdowns in many important cities including Shanghai Such measures have affected consumption and production.
In addition, analysts expected the Chinese stock market to weaken today. Because investors are disappointed that the People’s Bank of China decided to maintain the policy rate on Friday. This is in contrast to analysts’ expectations that the central bank will use stimulus measures that include cutting interest rates.
The People’s Bank of China (PBOC) kept the one-year interest rate on medium-term loans (MLF) for 150 billion yuan ($235.2 billion) of loans to financial institutions at 2.85% to maintain ample liquidity in the banking system. enough The MLF interest rate is China’s policy interest rate.
By InfoQuest News Agency (18 Apr 65)
Tags: GDP, China GDP, chinese economy
