China Ratchets Up Price Warnings as Inflation Fears Mount
- State Council to take specific steps to curb commodity rally
- Monetary policy, yuan should be kept steady, it says
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China’s cabinet increased its rhetoric around surging commodity prices, announcing more specific steps to curb markets in order to keep inflation pressures at bay.
At a meeting chaired by Premier Li Keqiang Wednesday, the State Council said more effort needs to be taken to prevent rising commodity prices from being passed through to consumers, according to reports carried in state media.