Brazilian Finance Minister Mantega (Guido Mantega) said on Tuesday, no end of World War II global monetary signs, the smoke still filled the currency war. To this end, Brazil is ready to introduce additional measures to further prevent the Brazilian currency, the real appreciation, in order to avoid a devastating impact on the domestic economy.
vicious dollar depreciation turbulent global financial markets, crude oil and other commodity prices, further increase the risk of inflation, uncertain prospects for economic recovery; while major economies currency upheaval, especially in emerging significant increase in the national currency economies, countries in order to maintain the domestic economy from shocks, are taking measures to prevent currency appreciation, and to combat hot money inflows, making the world into a ?currency war.?
for the first time that ?currency war? Mantega said the Group of Twenty (G20) from finalize the new exchange rate management policy guidance is still a long way to go between the United States and China and other countries are still ? there is opposition and resistance ?, the global currency war? is absolutely not over yet. ?
He said the developed countries maintain long-term economic weakness and weak ultra-low interest rates make the appreciation of the Brazilian real, forcing the Brazilian Ministry of Finance and Central Bank and other relevant departments hand, the exchange rate and commodity markets further intervention to curb Rhea Seoul rose sharply.
Mantega to the media that ?We will always be resorted to new measures. ?He said outside a meeting of investors, these measures without prior notice, but will include a market intervention. Brazil?s central bank announced yesterday to buy dollars in the spot market in order to enrich the Brazilian foreign exchange reserves to prepare for the real exchange rate intervention.
come from the second half of 2010, to discuss and to seek for the solution, several important international conferences have been held, these meetings focused on the reform of the international financial system, exchange rate adjustments and other related issues.
U.S. dollar devaluation, emerging market currencies face enormous pressure to appreciate, including China, Brazil, India, Mexico, Korea and other countries continuing to take measures to prevent currency appreciation, greater efforts to check the international hot money inflows. So far, these acts did not stop, but continued persistent.
from the current point of view, this is the currency of war continue to unfold continually expanding the scope of the battlefield, but also against the United States complicated the situation. Meanwhile, as the dollar continues to depreciate, the continued appreciation of the new national currency, the currency of this war seem to be entering a new phase, and far from the end.
Tags: Brazil, Brazilian Finance Minister Mantega: global currency war without end in sight, finance ministers, MonetaryRelated posts
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