April, 13 2016 by lsr team

Back in January, economists were gloomily warning about currency wars. The Bank of Japan had just announced negative interest rates and seemed to be threatening even lower – possibly much lower – rates to come. The ECB was set to respond at its meeting in March. And, of course, everyone was concerned about the prospect of a major Chinese devaluation. A few months after much of this talk has disappeared. There seems to be a ceasefire in the global currency ‘war’ and many economists attribute this to February’s G20 meeting in Shanghai. Even...