BIS Calls For Switch In Intervention Strategyslide In Yen Deemed 'A Serious' Misalignment


The Group of Seven should abandon efforts to promote stable exchange rates and instead adopt moving FX targets that would reflect differences in national inflation rates, according to the Bank for International Settlements (BIS), a think-tank and research organization for central banks.

The BIS also noted that the decline of the yen over the past several months represents "a serious exchange-rate misalignment which might threaten a return of higher Japanese trade surpluses."

The BIS, which

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