Inflation eases to 26-month low in Jan
India's headline inflation slowed to its lowest level in more than two years in January as food prices fell, increasing the pressure on the RBI to cut rates to battle the country's economic slowdown. Full Article
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G7 sticks to previous forex language - Juncker
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Luxembourg Prime Minister Jean Claude Juncker holds a news conference at the end of a European Union leaders summit in Brussels in this December 11, 2009 file photo.
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IQALUIT, Canada |
IQALUIT, Canada (Reuters) - Finance ministers from the G7 group of industrialized nations are sticking to comments on foreign exchange levels that they made last October, the chairman of the Eurogroup countries said on Saturday.
"We have agreed that there is no reason to change what we said recently. We stick to what we said in Istanbul," Jean-Claude Juncker said after a two-day G7 meeting concluded in Canada's remote north.
The G7 was not expected to issue a communique on Saturday.
When the group met in Istanbul in October, it said in a communique that too much volatility in foreign exchange markets could hurt the global economy and the financial system, and it welcomed China's pledge to move toward greater currency flexibility.
The United States, Canada, France and other countries have recently called on China to allow its currency to strengthen.
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