Currency Depreciation News
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Federal Reserve Bank of St. Louis President James Bullard said he wants to continue the current pace of bond purchases as long as falling inflation is a concern.
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France played a decisive role in shaping not only the euro system but the entire European project. This history has predisposed French leaders to the goal of preserving the euro at all costs. Those costs, as we explained in Part 1 of this article, have become quite insupportable. A new strategy is needed, and France’s role in shaping it will once again be pivotal.
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Moody’s Investors Service said it’s assessing the risk of currency depreciation damaging the creditworthiness of emerging-market companies after record foreign bond sales.
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Some Czech policy makers see an increased likelihood that the central bank will need to sell the koruna to ease monetary conditions, minutes from the bank’s May 2 policy meeting showed today.
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Asian Development Bank President Takehiko Nakao comments on the yen and Japan’s monetary expansion. He spoke in a press conference at the lender’s annual meeting in Noida on the outskirts of New Delhi.
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The Bank of Japan’s move to expand monetary easing may trigger “an avalanche” in the yen as Japanese put money elsewhere in anticipation of sustained currency depreciation, billionaire investor George Soros said.
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The largest emerging markets, whose economies grew more than four-fold in the past decade, are making losers out of everyone from central bankers to Procter & Gamble Co. as their currencies post the biggest declines since at least 1998.
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The New Zealand dollar weakened for a fourth day as central bank Governor Alan Bollard said a gradual depreciation of the currency is desirable.
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Asian stocks rose, with Japanese shares surging to the highest closing level in 4 1/2 years, after the Bank of Japan’s new governor announced unprecedented monetary easing to end two decades of economic stagnation.
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Hungary should pause with monetary easing after the benchmark interest rate dropped to a record low in a series of “appropriate” cuts, the International Monetary Fund said.
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