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<Research>M Stanley: CN New Round of Monetary Easing Slightly Beats Mkt Consensus; RMB1T-RMB1.5T Supplementary Fiscal Project Expected in 2H25
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The People's Bank of China (PBOC) and other Chinese authorities launched a new round of monetary easing measures this morning (7th), slightly beating market consensus, and indicated that there is room for further easing if necessary, reflecting the central government's intention to support confidence in the domestic market ahead of the US-China talks, Morgan Stanley released a research report saying. China's accelerated monetary easing should help to bring forward existing stimulus measures in the next 2 months, before the Chinese government announces a supplementary fiscal project of RMB1 trillion to RMB1.5 trillion in 2H25, according to the report. However, the overall policy stance remains passive and can only partially offset the tariff impact. Therefore, the broker estimated China's real GDP growth to slow rapidly to below 4.5% in 2Q25 and below 4% in 3Q25 (compared to 5.4% in 1Q25). AAStocks Financial News |
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