China's economy forecast to pick up in H2 2015

Beijing

ECONOMISTS at China's central bank have sharply lowered their 2015 inflation forecast even as they predicted that stabilising Chinese home prices and firmer foreign demand will drive a pick-up in the world's second-biggest economy in the next six months.

In a report on the central bank's website on Tuesday, economists at the People's Bank of China (PBOC) said that they had cut their 2015 inflation forecast for China to 1.4 per cent, from an initial 2.2 per cent.