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European finance chiefs say the renminbi is undervalued, disadvantaging EU exporters (Photo: EUobserver)

EU silent on Chinese currency move

The European Union has yet to react to comments made by China over the weekend that it is considering an end to the renminbi's unofficial peg with the dollar, in place since mid-2008.

European Central Bank officials declined to comment on the issue on Wednesday (10 March), a similar stance to that taken by the bank's president Jean-Claude Trichet earlier this week.

Mr Trichet said the Chinese currency issue was not discussed during a meeting of central bankers from industrialis...

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European finance chiefs say the renminbi is undervalued, disadvantaging EU exporters (Photo: EUobserver)

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