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PRESS RELEASE

Statement by the President of the European Central Bank, Jean-Claude Trichet

21 July 2005

Today’s decision of the Chinese authorities is welcome. The International Community had considered such a move towards greater flexibility desirable for a better functioning of the global economy. I welcome this decision and expect the handling of the new managed floating exchange rate regime to contribute to global financial stability.

KONTAKTANDMED

Euroopa Keskpank

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