If you missed Mike’s earlier post and have been unable to sleep or relax this weekend awaiting the communique from the G20, I have good news for you.
Here it is ….
Actually, here is a link (via Bloomberg): G-20 Communique Following Sept. 20-21 Meetings in Cairns
As usual, it is very broad-brush.
- It mentions stronger economic conditions in some key economies
- Says growth in the global economy is uneven and remains below the pace required to adequately generate jobs
- Downside risks persist – in financial markets, geopolitical tensions
- Global economy still faces persistent weaknesses in demand, and supply side constraints hamper growth
- Says G20 “have developed a set of new concrete measures that will facilitate growth, increase and foster better quality investment, lift employment and participation, enhance trade and promote competition” and that “Preliminary analysis by IMF-OECD indicates these measures will lift our collective GDP by an additional 1.8 percent through to 2018″
- On monetary policy, it “should address, in a timely manner, deflationary pressures where needed, consistent with central banks’ mandates”, … facilitate the eventual normalisation of monetary policy in advanced economies
More at the link