The People's Bank of China is expected lower rates twice later in 2019 and once in 2020 amid the country's trade fight with the U.S., said a Bank of America Merrill Lynch economist on Wednesday.
If the trade war were to intensify, that could lead the PBOC to this year cut rates even more than the two times currently anticipated, Qiao said. However, she did not rule out the chances of Washington and Beijing coming together on a trade deal this year.
On the fiscal front, Qiao said China is likely to roll out new infrastructure investments, consumer subsidies and tax measures to support the economy.
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