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G20 steps back from currency brink, heat off Japan

Group of twenty last Saturday announced that there will be no currency war and deferred set new debt to cut your plan, and emphasize the world economy vulnerable state's attention.
In a statement in a Moscow twenty countries group policy makers, covers the developed markets and emerging markets accounted for 90% of the world's economy, Japan's expansion policy, promote the yen, and escaped direct criticism.
Analysts said the yen, has fallen by 20%, due to revive Japan's economy positive monetary and fiscal policy, may continue to fall.
, "New York Mellon bank in London's currency strategists Neil Mellor said," the market will take the approval, it has been being do in the G20 statement - sales of the yen. "No condemn Japan means they will be shut down money printing machine".
Late at night after the meeting, finance ministers and central bank governors agreed the phrase than expected to last Tuesday released a joint statement, the group of seven rich countries support determined by the market rate.
The draft communique on last Friday, avoid the G7 economic policy is not according to the exchange rate appeal. But the final version, including G20 commitment to avoid competitive devaluation and said only in price stability and growth, monetary policy will be.
"The mood is very clear early, we need desperately to avoid protectionist measures, this kind of emotional penetration quite rapidly," Canadian finance ministers' FeiHai mention to tell a reporter, G20 statement the phrase has rigid minister.
As a result, it reflects a huge, but not completely, announced on Tuesday that the endorsement of the G7 countries - the United States, Japan, Britain, Canada, France, Germany and Italy.
And the G7 intervention, Tokyo said it gave it opened the green, the pursuit of its policy to cancel selected.
"I explained, ('s prime minister shinzo Abe) shinzo Abe government is try our best to get rid of deflation, we already have a certain understanding," finance minister Taro Aso (Taro Aso told reporters.
"We believe that if Japan must have an effect on the world economic recovery their economy. At this point we have to understand."
FeiHai mention admitted that it will be difficult to measure, if domestic policy is designed to weaken the currency or.
NO financial goals
G20 to a credible medium-term fiscal strategy also made a promise, but is not set specific goals, because most of the delegation that any economic recovery is too fragile.
Bulletin said, the world economy has the risk of recession, but growth remains weak and unemployment is too high.
"A continuous efforts, the need to remain in the euro area to build a more powerful economic and monetary union, and solve related financial condition, as well as in the United States and Japan's surplus economy growth source, in order to stimulate the domestic uncertainty," said.
In Toronto in 2010 attacks cut debt agreement, will be in expires this year, if leadership don't agree to extend it in the group of twenty summit fort in st. Peter's September.
The United States says it's orbit to meet its commitment to Toronto, but pointed out that the future financial reorganization of the pace, must not quench demand. Germany and other countries is stepping up for a new round of binding debt target.
Germany's finance minister Wolfgang · ShuoYiBuLe said: "we have a wide range of consensus, in the group of twenty commitment to perform at Toronto's goal, we will continue to adhere to". "We don't have any interest in the robot in st Petersburg later target will be decided".
G20 together check a huge financial market crisis in 2009 to stop, but can't achieve high since. In the previous meeting, Germany has urged the United States and other countries to do more work, solve their debt. Washington in turn urged Berlin do more demand increase.



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