SHANGHAI — China’s central bank slashed its forecast for exports on Wednesday, predicting a second consecutive annual fall in shipments, but said the economy would still grow 6.8% in 2016.The People’s Bank of China (PBOC) also warned in its mid-year work report that the government’s push to reduce debt levels and overcapacity could increase bond default risks, and make it more difficult for companies to raise funds.And, ahead of a meeting of the US Federal Reserve’s policy-making board next week, it said that the pace of US interest rate rises would affect global capital flows and emerging market currencies, but it did not mention the yuan."Since the beginning of this year, the global and domestic economic environment has experienced a number of changes," the PBOC said."Reflecting these recent developments, we revised our China macroeconomic forecasts for 2016. Compared with our published forecasts in December last year, we maintain our baseline projection of 2016 real GDP growth at...
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