Chinese inflation in line with expectations

China Consumer Price Index (MoM) came at -0.2% in April, in line with forecasts of -0.2%, with the yearly reading at 2.3%, slightly below forecasts of 2.4%. Meanwhile, China's Producer Price Index (YoY) registered at -3.4%, slightly above expectations of -3.8%. The market will likely interpret the data as neutral at it provides no major clues on the prospects of further easing by the PBOC.