Forex News

Group of 20, which summit ended today in Cape Town, South Africa, has released its statement. To some surprise it didn’t contain any strong implications to China’s monetary policy, as some expected. Although E.U., Canada and U.S. officials were motivated to bring China to the faster decisions, which could lead to the yuan appreciation, it seems that they failed.

Mervyn King, Bank of England Governor, said during his press conference that he will use the Group of 20 meeting to convince China to speed up the yuan’s appreciation. G20 meeting will be held near Cape Town, South Africa, this weekend on November 17-18 and one of the prevailing topics would be China’s monetary policy.