Bloomberg has obtained a draft copy of the statement.
- G20 members recognize growth is still weak
- Members recognize important risks remain
- G20 committed to avoiding FX rate misalignment
- Policy uncertainty and deleveraging hurt growth
- Important risks remain
- Stronger economic and monetary union needed
- US and Japan need to resolve fiscal uncertainties
It’s the usual platitudes but USD/JPY has been knocked down to 93.00. I don’t see anything alarming in the statement. In any case, the rhetoric never amounts to action.
