The G7 finance ministers and central bankers held a call to discuss the coronavirus, but the statement doesn’t provide any surprise to investors.
What does it say?
- Fiscal stimulus are mentioned, “G7 finance ministers are ready to take actions, including fiscal measures where appropriate.”
- Central banks will do their mandates, “G7 central banks will continue to fulfill their mandates, thus supporting price stability and economic growth while maintaining the resilience of the financial system,” just as separate statements published by respective central banks earlier (for example, from ECB and Federal Reserve).
- The statement ends with, “G7 Finance Ministers and Central Bank Governors stand ready to cooperate further on timely and effective measures”
Here is the full statement.