PBOC Could Further Cut Policy Rates Later This Year, UBS Says -- Market Talk

Dow Jones

2025/05/08

0643 GMT - The PBOC could cut policy rates by an additional 20-30 bps in the remainder of 2025, says Tao Wang, UBS chief China economist, in a note. While some mild de-escalation is possible in the short term after any U.S.-China trade talks, it could take some time before a meaningful deal can be reached, she says. Meanwhile, she expects Beijing to roll out broad fiscal stimulus worth 1.5%-2% of GDP. The new fiscal stimulus could come around end 2Q or early 3Q after China accelerates planned budget spending and assesses the impact of the tariff shock in the coming two to three months, she adds. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 08, 2025 02:43 ET (06:43 GMT)

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