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Post by bot on Nov 1, 2013 20:22:14 GMT -5
Treasury says China not currency manipulator
WASHINGTON (MarketWatch) - The Treasury Department on Wednesday again declined to name China a currency manipulator, but ramped up its concern that the country has resumed intervention to keep its currency from strengthening. In its semiannual report on exchange-rate policies, the Treasury said that China's currency is appreciating "but not as fast or by as much as is needed. The department said it would "carefully monitor" the pace of the yuan's appreciation in China. The report also urged Germany to take steps to boost domestic demand and shrink its current account surplus, noting that Germany's policies have led to a "deflationary bias for the euro area, as well as for the world economy."
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