China inflation growth slows, boosting hopes of rate cut

China's inflation rate slowed in April, raising hopes that the central bank will cut interest rates in a bid to sustain growth.

Consumer prices rose by 3.4% from a year earlier, down from 3.6% in March.

This comes just a day after China reported that its export and import growth had slowed, leading to fears of a slowdown in its economy.

Many analysts have called for Beijing to ease its monetary policy in order to spur growth.