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% by December, the central bank governor said.
Headquarters of the People's Bank of China , the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee
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 fellSome 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.
"It is expected that year-on-year growth of gross domestic product in the second quarter will be relatively high . The CPI is expected to gradually pick up in the second half of the year and be above 1% year-on-year by December," the PBOC statement quoted Yi as saying.
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