The People's Bank of China (PBOC) expects Consumer Prices to pick up this year, and that the central bank is not expecting inflation or deflation to become a significant problem for China. China's CPI hit an 18-month low in March, and rose 0.7% year-on-year. However, retail sales for March grew by a more-than-expected 10.6% from a year ago. Against that backdrop, Zou Lan, director of the PBOC's monetary policy department, said China's monetary policy would remain "stable."

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