Most financial observers think that Japan will succeed with its 2% inflation target and the depreciation in the currency will be gradual.
So any significant repatriation of those funds would cause a significant depreciation in the Brazilian currency, the real.
Antitrade activists frequently suggest that free trade is a "race to the bottom" and lobby for currency depreciation in order to improve the export position of American firms.
These developing countries often intervene in currency markets to prevent currency appreciation and its negative effects on their balance of trade resulting from currency depreciation and manipulation in other countries.
Such expansionist monetary policies in and of themselves, in isolation regarding the fiscal policies, ultimately lead to a depreciation in the value of the currencies of emerging countries -- rather they lead to a depreciation in the value of the currency of developed countries, thus impairing growth outlooks in emerging countries.
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The currency depreciation and slump in demand have hammered many families' real incomes especially in urban areas but hunger has been less of a problem than feared.
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The only difference is that open economies with floating currencies may experience that fall in incomes through currency depreciation and thus higher prices for consumer goods while a closed economy will suffer a decline in wages as expressed in the local currency.
What would really help the market, and stocks like Canon, whose earnings are largely in foreign currency, is depreciation of the yen.
This adds to a general lack of confidence in the local currency caused by memories of its depreciation during the economic crisis of 2001.
Initially it prescribed its usual medicine of tough budget tightening but backed off quickly after recognizing that the policy was accentuating the drastic drop in economic output caused by the battering sharp currency depreciation had delivered to the balance sheets of companies and banks that had borrowed abroad.
If Greece still had its own currency, it would depreciate substantially against other currencies and much of the necessary reduction in Greek real income would take place via that currency depreciation.
Investors were awaiting a meeting of Group-of-20 finance ministers in Moscow later in the week, which is expected to confront the issue of deliberate currency depreciation.
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