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CNN: Japan spurs talk of currency war

Japan has come under fire this week for policies that critics say deliberately devalue the yen, but analysts say fears of an outright currency war are overblown.

The political rhetoric became heated after the Bank of Japan announced plans to makeopen-ended asset purchases in an effort to re-inflate the Japanese economy, which recently slipped into recession.

Jens Weidmann, president of Germany’s central bank, criticized the BoJ for caving under pressure from newly elected prime minister Shinzo Abe. Weidmann warned that the bank risks losing its independence, which could lead to a “politicization of exchange rates.”

Akira Amari, Japan’s economy minister, quickly pushed back.

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