Premier Wen Jiabao said on Monday China would pursue political reforms only in a “gradual” manner and within the umbrella of one-party rule, even as he ruled out the likelihood of the recent West Asian uprisings having any impact on China.
Brazil's central bank said Thursday it remained cautious about the outlook for prices due to uncertainties in the global economy, and hinted that more than just interest rates may be needed to bring inflation back into line with targets.
China must ensure social stability by reducing inflation and corruption, Premier Wen Jiabao has told the parliament's annual session. Mr Wen has been addressing about 3,000 delegates to open the National People's Congress in the Great Hall of the People in Beijing.
China's Prime Minister Wen Jiabao says China is lowering its annual economic growth target from 7.5% to 7% and is determined to contain soaring prices. He was speaking in a question and answer session with internet users in what has become an annual online chat. Mr Wen said China needed to ensure that growth was sustainable.
Mercosur central banks’ presidents meeting in Peru last Friday agreed that the task ahead has become ‘more complicated’ because of growing inflationary pressures triggered by soaring food and oil prices.
Brazil's general price index, or IGP-M, rose 1% month-on-month in February, compared to 0.79% rise in January, the Getulio Vargas Foundation said Friday. Economists' had forecast the index to rise 1.01%.
The European Central Bank is not surrendering its price stability objective for crisis management policy, the bank's President Jean-Claude Trichet said. He also argued that the recent spike in Euro zone inflation is due to the current rapid economic recovery in emerging markets and not due to the currency bloc's sovereign debt crisis.
Nouriel Roubini the New York University professor, who predicted the credit crisis, said China and other emerging markets risk a “hard landing” as they start raising interest rates to fight inflation.
A majority of Argentines, 74%, believes that inflation is harming their finances and a similar percentage, 74%, considers the administration of President Cristina Fernandez de Kirchner is hardly interested in the issue, according to a public opinion poll published Sunday in Buenos Aires La Nacion.
Argentina’s official and controversial consumer price index in January increased 0.7%, a number disputed by private institutions that argue inflation in the first month of 2011 reached a floor of 2%.