BEIJING :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 per cent by December, the central bank governor said.
Some 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 per cent year-on-year by December," the PBOC statement quoted Yi as saying.
The government has set a modest GDP growth target of around 5 per cent for this year, after badly missing the 2022 goal. First-quarter growth was better than expected at 4.5 per cent.
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