China PBOC Report Implies No Bank Easing to Boost GDP

        0235 GMT [Dow Jones] The China central bank's Q1 monetary policy report highlights the downside risks to Nomura's 7.4% economic growth forecast for 2014, says Nomura economist Zhang Zhiwei. He notes the PBOC reiterated its "prudent" monetary policy stance, suggesting it does not intend to loosen policy significantly. This implies the government will tolerate slower growth, or push reforms that support growth via productivity gains, rather than easier monetary policy, he says. Also, and despite recent weak data, risks in the property sector aren't highlighted in the report, showing that the bank wants to downplay this and keep monetary policy unchanged. (grace.zhu@dowjones.com)
        (END) Dow Jones Newswires

        May 06, 2014 22:35 ET (02:35 GMT)