30 April 2001, 14:57 G-7 TO REMAIN 'VIGILANT' BUT OPTIMISTIC ON WORLD SLOWDOWN
offering no new advice to member states. The group emphasised that the
foundation for growth remains "sound", according to the communique
following their meeting in Washington Saturday. The group agreed that
each member should do what is necessary to grow closer to its potential
through appropriate policies.
-- U.S. monetary policy should continue to support sustained growth with
low inflation, while U.S. fiscal policy should be targeted at improving
"long-term fundamentals."
-- Eurozone growth prospects have slowed but remain "favourable." the G7
said, stressing the need for policy changes to increase potential
growth. -- Japanese monetary policy should "continue to provide ample
liquidity" until consumer prices remain at or above zero, the G7 said.
The group also called for "vigorous" reforms to the financial and
corporate sector.
-- There were some worries evident about emerging markets, notably
saying Turkey should implement needed measures.
© 1999-2024 Forex EuroClub
All rights reserved