BEIJING (April 20): A recovery in Chinese consumer demand needs time to pick up due to the "scarring effect" of Covid-19, but there is no basis for any long-term deflation, an official from the People's Bank of China (PBOC) said on Thursday (April 20). While the world's second-largest economy reported better-than-expected growth in the first quarter, some economists said the upbeat headline figures mask underlying weakness in both household and external demand. Despite record first-quarter bank lending, consumer price inflation is slowing sharply and factory gate prices are in freefall, creating a headache for the central bank.

http://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-04-21-story-h-272522763-China_39_s_Central_Bank_Official_Dismisses_Long_term_Deflation_Scenario

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