Economy

China's growth

Xi organized a meeting with American company leaders

Several American company leaders have met Chinese President Xi Jinping in connection with this weekend's economic congress in Beijing. That's what Nikkei Asia writes.

Apple's Tim Cook is said to have been there together with the CEOs of Fedex, Exxon and Qualcomm, among others.

"On the morning of March 27, President Xi Jinping met with representatives from the American business community," state CCVT states.

The meeting comes at a time when foreign investment is plummeting in China, and the move is described as unusual: Usually, foreign executives meet with Premier Li Qiang, who has the economy on his table.

Last week, Tim Cook told state channel CGTN that he feels China is "really opening up," according to DW.

iPhone sales in China were down 24 percent in the first six weeks of the year and appear to have continued to plummet in February, according to Bloomberg.

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Swedish inflation

The idea: 50 percent chance of a rate cut in May

The risk of inflation taking hold has decreased and the probability of an interest rate cut in May is around 50 percent. This is what Riksbank governor Erik Thedéen says at a press conference.

Even if the trend is going in the right direction, price pressure is still "somewhat elevated", especially in the service sector.

- We want to get further evidence that inflation is stabilizing at the target before we proceed with interest rate cuts, he says.

According to Thedéen, the new interest rate path signals that there may be three cuts in 2024. But he emphasizes that the Riksbank will proceed cautiously. One risk he highlights is that the signals of lower interest rates can drive up demand in the economy and thereby inflation.

- We have to feel our way. When we implement interest rate cuts: how does the economy react?