All G20 members have role in softening volatility-Canada official

Mon Feb 17, 2014 11:02am EST
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OTTAWA Feb 17 (Reuters) - Monetary policy in advanced economies must be well-communicated to the rest of the world and calibrated to the pace of the recovery, a message Canada hopes the Group of 20 major economies will repeat at their upcoming meeting, a senior Canadian finance official said on Monday.

At the same time, emerging economies with weak policy frameworks making them vulnerable to financial market volatility must do more to strengthen their policies, the official said in a briefing with reporters.

The Canadian official, speaking on the condition he not be named, said it was not surprising to see market volatility in reaction to the U.S. Federal Reserve's withdrawal of stimulus. He said the unprecedented transition of the global economy, while seen as good news overall, brings inevitable challenges and requires adjustments from all countries.