Global finance chiefs sought to buttress the global economic recovery with pledges to avoid spooking markets as China moved to scrap a lending rule that had constrained its banks.
Group of 20 nations will pursue “carefully calibrated and clearly communicated” policy moves so that the U.S. and Japan don’t cause cross-border damage when they start rolling back stimulus, they said after a two-day meeting of finance chiefs in Moscow. They will move “more rapidly” toward market-determined exchange rate systems, following China’s internal banking change, according to a July 20 statement.
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Rebecca Christie, Scott Rose & Joshua Goodman, Bloomberg via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/GtFb8KpLsSM/
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