China's authorities are expected to respond to the growth slowdown by further monetary stimulus over the next two quarters.
In the rest of Asia, there is also no sign that lower oil prices are prompting a growth surge; consumption remains weak in Korea, which likely constrained the GDP growth pick-up in Q1; trade and production data for the rest of the region reveals no clear trend.
Inflationary pressures across the Asia-Pacific region, however, remain largely benign due to lower oil prices; this should allow countries such as Australia, New Zealand and Vietnam to cut policy rates in Q2-2015.
