0443 GMT - China's latest budget released at the National People's Congress meeting ushers in an important policy shift towards stimulus that will support domestic equity markets, Eastspring Investments chief economist Ray Farris writes in a note. Beijing will likely to spend whatever it takes to keep the GDP growth above 4.5%, Farris says. The government may ultimately expand the augmented public sector deficit by more than current estimates of 1.7% to 1.8% of GDP this year, he says. The policymakers may fund this through fiscal deficit or even another increase in long-term bond issuance, he adds. The People's Bank of China could cut its reserve requirement ratio and interest rates by 50 basis points each this year, he says.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 11, 2025 00:43 ET (04:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。