With Abe in Japan indicating that devaluation is the goal, other world economic powers are starting to twist in their seats. A race to the bottom? Ja.
Boy that Bundesbank gold can’t get to Frankfurt soon enough.
(From The FT)
The erosion of central bank independence around the world threatens to unleash a round of competitive exchange rate devaluations, which leading economies have so far avoided during the financial crisis, the president of Germany’s Bundesbank warned on Monday.