Did G-20 meeting lead to a secret Shanghai Accord?

Slew of measures by policymakers to keep currency markets calm gives rise to suspicion of a backroom deal


POLICYMAKERS across the world are acting in ways that suggest there may have been more to last month's Group of 20 meeting in Shanghai than mere platitudes about promoting global economic growth.

In the past few weeks, officials from China, the euro area, Japan, the United States and Britain have taken a barrage of actions to keep the world economy afloat and currency markets calm. That's led some analysts to conclude that there is indeed a secret Shanghai Accord, akin to those reached in an earlier era at the Plaza Hotel in New York and at the Louvre Museum in Paris.

The US Federal Reserve on Wednesday capped off the series of moves by global policymakers by forecasting a shallower-than-anticipated...

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