Global finance ministers and central bank chiefs attending the Group of 20 nations (G-20) meeting in Moscow dismissed talk of currency war over the weekend and said they would “refrain from competitive devaluation.”
But by letting Japan off the hook and urging action to address the weak global economy, G-20 policymakers also signaled that further monetary and fiscal easing could lie ahead.
“There’s been lots of talk of currency wars, and we have not seen any such thing as a currency war,” Christine Lagarde, managing director of the International Monetary Fund, told journalists on Saturday.
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