G20 policymakers vowed to adopt a range of policy tools to lift global growth and avoid currency wars, according to officials close to the talks.
The final communiqué from the G20 meeting in Shanghai did not include a specific deal on using fiscal policy to stimulate growth but there was consensus that monetary policy alone was not adequate to boost global growth than had been the case before.
“Monetary policies will continue to support economic activity and ensure price stability, consistent with central banks’ mandates, but monetary policy alone cannot lead to balanced growth,” the communiqué said.
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