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Yen given free reign to weaken? G20 unlikely to admonish Japan over “Competitive Devaluation”

The world’s top economic policymakers are likely to discuss how Japan’s new monetary and fiscal policy drive is weakening the yen when they meet next month, but will stop well short of calling it a competitive devaluation, G20 officials said.

Finance ministers and central bank heads from the G20 group of the world’s biggest advanced and developing economies gather on Feb. 15-16 in Moscow, under Russia’s 2013 presidency.

With the United States, Britain, the European Central Bank and Japan all resorting to unconventional monetary levers to revive their economies, the spillover of such policies and their exchange rate effects will certainly be on the agenda.

CNBC [1]

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