Tuesday, October 26, 2010

Canada Will Be `Relentless' in Pressuring China on Yuan After G-20 Meeting

(Bloomberg – Paul Badertscher)
Canadian policy makers said they will be “relentless” in keeping pressure on China and other economies with fixed exchange rates to allow their currencies to appreciate, following meetings with colleagues from the Group of 20 nations last weekend.

Finance Minister Jim Flaherty and central bank Governor Mark Carney said that while the G-20 made progress on promoting flexible currencies and other issues, they remain a long way from the ultimate goal. “We’re not satisfied with the degree of exchange rate flexibility, the moves on exchange rate flexibility, in key emerging markets,” Carney said in an interview following the meeting in Gyeongju, South Korea. Read more here.