Seems like everyone had a few things to day on the weekend in Cairns at the G20-fest.

G20 Communique

Finance Minister Lou Jiwei – China will not dramatically alter its economic policy

German finance minister Wolfgang Schaeuble – ESM not there to finance investment

Bundesbank President Jens Weidmann: “No fiscal stimulus is needed from the German perspective”

Even Bank of Canada Governor Stephen Poloz got in on the act, saying said there’s no reason to believe a recent jump in the Canada’s inflation rate will persist given excess capacity in the economy:

  • “So much of the uptick in inflation that we’ve seen over the last five or six months has been in what we call one-off categories”
  • “We know the Canadian economy has a significant amount of room to grow.”
  • “There is excess capacity both in output space and in labor market, the idea is to get the economy back to normal, and then inflation would be sustainably at target, not just accidentally”

via Bloomberg