China Economy | Goldman Sachs Lowers Mainland GDP Forecast for This Year, Inflation Expected to Rise

SighingCashier · 2026-03-13T09:36:45+00:00

Investment banking giant Goldman Sachs expects China will cut rates only once this year, with a reduction of 10 basis points, down from its previous expectation of two cuts; it has also updated its growth forecasts for Asian economies due to rising energy prices caused by the Iran conflict.Goldman Sachs' report believes that Asian monetary policy forecasts remain largely unchanged, with growth expectations for most Asian economies downgraded by 0.3 to 0.5 percentage points.The firm has lowered its forecast for China's actual GDP growth this year from 4.8% to 4.7%; its consumer price index (CPI) forecast has been raised to 0.9%, with the institution having previously raised this expectation from 0.6% to 0.8%.

SighingCashier

2026-03-13 09:36:45

Goldman Sachs, a major investment bank, expects China to cut interest rates only once this year by 10 basis points, previously anticipating two cuts. It also revised its growth forecasts for Asian economies due to rising energy prices caused by the Iran war.

The Goldman Sachs report states that the outlook for Asian monetary policy remains largely unchanged, with most Asian economies’ growth forecasts lowered by 0.3 to 0.5 percentage points.

The firm has lowered China’s real GDP growth forecast for this year from 4.8% to 4.7%; its forecast for the Consumer Price Index (CPI) has been raised to 0.9%, after previously increasing the estimate from 0.6% to 0.8%.

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