Property-led slowdown trims China’s Q3 GDP. Modest pick-up likely in Q4

HONG KONG – ANZ Bank sees China's growth momentum picking up only modestly in Q4, as massive policy easing is unlikely. “We maintain our GDP forecast at 7.5% for the whole year of 2014, and China's economy will grow 7.5% in Q4,” the bank says.

“The PBoC will continue to use its newly-established policy instruments to tweak money market rates. We expect that market interest rates will see a downward trend, and the RMB exchange rate will continue to see appreciation bias in the remainder of this year.”
China’s GDP growth slowed to 7.3% y/y in Q3 2014, the slowest pace since Q1 2009, largely owning to the sluggish property market and tight monetary policy. www.live.anz.com (ATI).