Following virtually every major economy looking into possible FX manipulation the G20’s Financial stability board (FSB) has announced that it will be poking its nose in also.
“Recently, a number of concerns have been raised about the integrity of foreign exchange rate benchmarks. The FSB has consequently decided to incorporate an assessment of FX benchmarks into its ongoing programme of financial benchmark analysis,” it said in a statement today.
The FSB Forex group will be chaired by RBA assistant governor Guy Debelle. any recommendations will be given at the November G20 summit in Brisbane.
No rush then?
