BofA Cuts Its Chinese Growth Forecast

  • China 2012 GDP forecast cut to 7.7% from 8%.
  • Sees no recovery for China’s exports in sight.
  • China’s ability to ease policy constrained by home prices.
  • China 3rd qtr forecast cut to 7.4% from 8% .

Side note , China’s RRR cut postponed as reverse repo satisfy needs .  The USD firming slightly across the board , along with the YEN at 78.20.   EUR/USD at 1.2273,  AUD/USD at 1.0546,  and NZD/USD at 0.8110.

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