ICYMI – Nomura slashed their China GDP forecast for 2023 to 4.6% (from 5.1%) | Forexlive

Nomura revised its economic growth forecast for China this year to 4.6% from its previous projection at 5.1%

• Citing weak data for July (out last week) and warning of a an ongoing “downward spiral” in the economy.
• their growth forecast for 2024 remained unchanged at 3.9%
• “In coming months, growth will face further pressure as the post-pandemic pent-up demand for travel runs its course”

Earlier:

Later today we’ll be getting a rate cut from the People’s Bank of China:

After bank execs spent the weekend haranguing the locals: