Analysts at Morgan Stanley revised down China’s 2022 GDP growth forecast to 4.2%, in line with the downgrade by Bank of America and Nomura over the last week.

The US banking giant noted that COVID-19 disruption across the economy is leading to the cuts in GDP projections.

On Monday, Analysts at Morgan Stanley lowered their forecasts for Eurozone GDP growth this year and the next to 2.7% and 1.3% respectively.

• USD/CNY fix: Weakest level since April 2 2021, 6.5590