Tuesday, June 22nd, 2010

(AFX UK Focus) 2010-06-22 18:55 Bank of Canada says yuan move an important step
OTTAWA, June 22 (Reuters) – The Bank of Canada said on Tuesday that China’s move to loosen its foreign exchange controls was an important step forward. Bank of Canada Deputy Governor Timothy Lane said in a speech that to rebalance global growth, countries that are running current account surpluses need to increase domestic spending, while deficit countries need to decrease theirs. “In this …

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