G-7 joint communique states that central banks remain strongly committed to price stability, with monetary policy to remain data dependent; all countries to refrain from imposing unjustified export restrictions on hydrocarbons and related products
Importance
Level 1
- Committed to take all necessary measures to preserve the stability and security of the energy market.
- Will continue to exchange information and coordinate closely within the G7 and international partners.
- Remain prepared to meet as needed in response to further developments.
- Can lower short-term interest rates to offset the tightening effect of reducing balance sheet.
- Important to go slowly on balance sheet reduction.
#FIXED INCOME#EU SESSION#US SESSION#CENTRAL BANK#GLOBAL NEWS