China consumer price rise exceeds expectations

Coming a day after disappointing production and retail sales figures, China's consumer price index offered another unpleasant surprise, rising 3.2% in February and raising concerns that monetary tightening may soon follow. The rate marked a 10-month high. Separately, in a move seen as offering reassurance over China's financial reforms, the government has devised a way to keep central bank Governor Zhou Xiaochuan in office past the normally mandatory retirement age of 65.

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