ING Chief Economist Calls for Further Rate Cuts in China

China’s consumer prices rose slightly in March compared to the previous year but didn’t meet economists’ expectations, revealing ongoing challenges in stimulating domestic demand for the world’s No. 2 economy.  The spectre of deflation seems to be gradually receding, but the persistent property crisis continues to cast a shadow over consumer and business confidence.  Official data released on Thursday revealed that China’s consumer price index in March showed a mere 0.1 per cent increase compared to the previous…