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 Pot, kettle and all that: U.S. to Press Japan to Refrain From Competitive Devaluation

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Pot, kettle and all that: U.S. to Press Japan to Refrain From Competitive Devaluation Vide
PostSubject: Pot, kettle and all that: U.S. to Press Japan to Refrain From Competitive Devaluation   Pot, kettle and all that: U.S. to Press Japan to Refrain From Competitive Devaluation Icon_minitimeFri Apr 12, 2013 7:48 pm
The U.S. Treasury said it will press Japan to refrain from competitive devaluation while declining to name China a currency manipulator in a report on exchange rates.

The Treasury will pressure Japan to adhere to international commitments “to remain oriented towards meeting respective domestic objectives using domestic instruments and to refrain from competitive devaluation and targeting its exchange rate for competitive purposes,” it said in its semi-annual currency report to Congress released in Washington today.

The Bank of Japan surprised markets on April 4 by doubling monthly bond purchases to almost match the Federal Reserve’s monetary easing and setting a two-year horizon for achieving its goal of 2 percent inflation. BOJ Governor Haruhiko Kuroda said today there’s no time limit to the stimulus.

http://www.businessweek.com/news/2013-04-12/u-dot-s-dot-to-press-japan-to-refrain-from-competitive-devaluation
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Pot, kettle and all that: U.S. to Press Japan to Refrain From Competitive Devaluation

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