Finance ministers and central bankers from the G20 met over the weekend
The final communique is out, headlines:
- It says short- and medium-term risks to growth have increased, including heightened trade and geopolitical tensions
- Many emerging markets better prepared, still face challenges including market volatility and reversal of capital flows
- International trade and investment are engines of growth, recognises need to step up dialogue and actions to mitigate risks
- Crypto-assets do not at this point pose a global financial stability risk but remain vigilant
- Working to strengthen the contribution of trade to G20 economies
- Says given recent financial market volatility will continue work on monitoring cross-border capital flows
- Global economic growth remains robust, unemployment at a decade low
- Growth has been less synchronized recently
- Reaffirms exchange rate commitments made in the March statement to avoid competitive devaluations and refrain from targeting exchange rates for competitive advantage
Headlines via Reuters
I bolded that bit on exchange rates.
Dunno about anyone else but that all is pretty ho hum … there would have been plenty of tension at the meeting but the communique is not, um, exciting.
