Beijing is unlikely to cut the policy rate in the near term, according to UOB
Economist Ho Woei Chen in a research note. "With China's 1Q gross domestic
product growth at the top of the official 4.5%-5.0% target, the likelihood of
near-term rate cuts has diminished," the economist says. While UOB maintains its
baseline forecast of a 10 bps cut to the policy interest rate, it pushes back
the timing of the move to 3Q from 2Q, citing heightened uncertainties from
developments in the Middle East.
