China’s Official Growth Target Around 6.0 in 2020: BofAML’s Qiao

The transcript discusses China's economic situation, highlighting the slowdown in GDP growth and the lack of major policy reactions from the PBOC. It projects future growth to stabilize at a lower level, around 5.6% for the year, due to continued economic pressures. The impact of inflation, particularly from rising food prices due to African swine flu, is examined, but it's noted that this is not the sole reason for the PBOC's cautious approach to monetary easing. The transcript concludes with a discussion on other concerns influencing policy decisions, such as system leverage.

What are the reasons for the PBOC's hesitation to implement further monetary easing?

How is food price inflation affecting the overall inflation rate in China?