Via Bloomberg:
HSBC cuts China 2015 growth forecast to 7.1% from 7.3%
- Says export growth has been weaker than expected so far this year
- Due in part to softer external demand and a stronger yuan .... so they cut the export growth forecast to 4.2% from 7.1% too
Says "policy easing is still behind the curve"
- Expects another 50 bps policy rate cut versus earlier forecast for 25 bps cut, and now 250 bps of reserve ratio cuts compared with 100 bps earlier
