BEIJING (MNI) - Chinese Premier Wen Jiabao again offered a robust defence of his government's decision to stabilize the yuan exchange rate, voicing his opposition to attempts to force China to budge and arguing that external pressure isn't helping reform efforts.

Wen told reporters at his annual press conference that "the Chinese yuan is not undervalued."

BEIJING (MNI) - Consumer price inflation in February came in slightly higher than expectations, but it's too soon to discuss raising benchmark interest rates, People's Bank of China Governor Zhou Xiaochuan said Sunday.

He was speaking to reporters on the sidelines of the annual meeting of the National People's Congress following Thursday's release of a report showing that consumer price inflation accelerated to 2.7% y/y last month from 1.5% in January.

WASHINGTON (MNI) - The following is a transcript of comments by White House Press Secretary Robert Gibbs during the the daily press briefing on the potential nomination of San Francisco Fed President Janet Yellen to succeed Donald Kohn as Fed vice chairman:

WASHINGTON (MNI) - The following is a transcript of comments by White House Press Secretary Robert Gibbs during the the daily press briefing on the potential nomination of San Francisco Fed President Janet to succeed Donald Kohn as Fed vice chairman:

STANFORD, California (MNI) - A delayed withdrawal of European Central Bank measures used to boost lending during the financial crisis would distort market behaviour and lead to a misallocation of credit, European Central Bank President Jean-Claude Trichet said on Friday.

The ECB considers the current pace of withdrawal "appropriate," he added.

By John Shaw

By Brai Odion-Esene

WASHINGTON (MNI) - Treasury Secretary Timothy Geithner Friday warned that it would be a mistake to attempt a quick narrowing in the federal deficit now, with the economic recovery still in its early stages, but acknowledged that postponing the issue indefinitely would also be bad for the country.

By John Shaw

WASHINGTON (MNI) - House Speaker Nancy Pelosi said Friday the health care reform has entered its final phase, and she would like a final vote in the House by the end of next week.

At a briefing, Pelosi said Democratic leaders are drafting a budget reconciliation bill to make changes to the health care legislation that the Senate approved on Christmas Eve.