ECB's Welteke urges caution in changing yuan peg

Ernst Welteke urged caution on Wednesday 17 September in making "abrupt changes" to currency arrangements such as the Chinese yuan's peg to the US dollar. The ECB Governing Council member said "adaptations should develop in a relatively reasonable way".

Source: Channel News Asia

European Central Bank Governing Council member Ernst Welteke has urged caution in making "abrupt changes" to currency arrangements such as the Chinese yuan's peg to the US dollar.

Mr Welteke warned Beijing must not rush

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