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Story summary
- Huang Yiping of the People’s Bank of China said China could cut interest rates in 2026 and urged welfare support as inflation stays low.
- Retail sales fell in May—the first decline since the late-2022 Covid reopening—while bank net interest margins hit a record 1.4% as inflation stalled.
- More than half of 33 Bloomberg-polled economists expect the PBOC to pause policy in 2026, while rest forecast a rate cut by year-end.
