Despite the volume of the ‘currency war’ rhetoric, the G20 meeting in Seoul turned out to be of little consequence for markets. Less was heard of another strand to Seoul proceedings that will have some influence, on so-called Sifis, but the speed of progress is likely to match that of drying cement.
What happened? The Financial Stability Board reported to the G20 “on progress and next steps in the implementation of the G20 recommendations for strengthening financial stability”.
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