China’s Wen: confident on inflation after rate rise
Chinese Premier Wen Jiabao voiced confidence Sunday that his government can contain rising prices, seeking to reassure the public about inflation a day after the central bank raised interest rates for the second time in 10 weeks.
Speaking to listeners Sunday during a visit to state radio headquarters, Mr. Wen acknowledged that recent price increases have “made life more difficult” for middle- and lower-income Chinese. But, pointing to measures the leadership has taken in recent months, he said: “As it looks now, we are completely able to control the overall level of prices.”