IMF raises China’s 2023 and 2024 growth forecasts

Noticias del mercado

7 noviembre 2023

IMF raises China’s 2023 and 2024 growth forecasts

In its latest report published on Tuesday, the International Monetary Fund (IMF) upgraded its gross domestic product (GDP) growth forecasts for China to 5.4% in 2023 and 4.6% in 2024.

This came in contrast with October’s outlook when the IMF revised down 2023 and 2024 China’s growth forecasts for China to 5.0% and 4.2%, respectively.

Market reaction

The upward revision to the Chinese growth forecasts fails to lift the sentiment around the Australian Dollar, as the AUD/USD pair remains heavily sold-off into the Reserve Bank of Australia’s (RBA) surprisingly dovish language in the policy statement. The pair is down 1.02% on the day, currently trading at 0.6415.

AUD/USD seen lower at 0.62 in 12M as the RBA is likely to remain on hold from here – Danske Bank

Singapore: Healthy performance of PMIs in October – UOB

Enfoque del mercado

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