Hosts Japan with their G7 summary from Sendai meeting 21 May 2016
- shock of potential Brexit could complicate global economic environment
- G7 discussed how to employ balanced policy mix of mon pol, fiscal structural steps to strengthen global demand, address supply constraints
- mon pol will continue to support economic activity and ensure price stability consistent with central bank mandates
- important to implement our fiscal strategies flexibly, advance structural reforms to boost productivity
- G7 re-affirmed its existing exchange rate agreements inc not to target FX rates and that excess volatility and disorderly FX moves can have negative effect on economy
- G7 underscored importance of all countries to refrain from competitive devaluation
Footnote: Reuters also report that this summary was prepared by Japan to facilitate media and does not officially represent G7 consensus.
