TPP central banks to refrain from currency manipulation

Thu, 05 Nov 2015

By Paul McBeth Nov. 6 (BusinessDesk) - The Reserve Bank of New Zealand and its 11 counterparts in the Trans-Pacific Partnership trade and investment pact have agreed to avoid unfair currency manipulation as part of a regionwide push for greater cooperation, adopting an initiative pushed by the US Treasury. In a joint statement, central bank governor Graeme Wheeler and Treasury secretary Gabriel Makhlouf welcomed a declaration by the 12 monetary authorities, whose principal objective was to avoid unfair currency practices before passing le...

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