G20 finance ministers pledged to use all policy tools - ANZ

Philip Borkin, Senior Economist at ANZ, notes that the dramatic shift in the political environment and increased anti-globalisation sentiment of late has certainly been a wake-up call for world leaders.

Key Quotes

“At the weekend, G20 finance ministers responded to this concern, pledging to use all policy tools (monetary, fiscal and structural) to not only generate stronger growth outcomes, but also more “inclusive” ones. That all sounds promising. Monetary policy has been relied on for too long (and is arguably contributing to some of the world’s inequality issues through its impact on asset prices). Some countries look to be stepping up efforts to tackle challenges. But on the whole, and when it comes to the G20, it still remains a case, at least in this author’s eyes, of “I’ll believe it when I see it”.”