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PBOC Governor Yi Says Forceful MonPol to Continue

CHINA

Summary of comments from PBOC's Yi (via BBG):

  • Expect 2Q GDP y/y growth to be high on base effects
  • Expect CPI to gradually rebound in 2H
  • Have confidence to achieve official growth target
  • China's economy still in recovery phase after Covid
  • Will continue targeted, forceful monetary policy
  • Will strengthen counter-cyclical adjustments

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