HIGHLIGHTS-Key points from G20 communique

Sat Feb 22, 2014 10:42pm EST
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SYDNEY Feb 24 (Reuters) - The world's top economies have adopted a soft target of adding at least 2 percentage points to growth over five years, a source said, signalling optimism that the worst of crisis-era austerity was behind them.

The following are key points from the communique at the conclusion of the Group of 20, according to the source.


"We commit to developing new measures in the context of maintaining fiscal sustainability to significantly raise global growth. We will develop ambitious realistic policies with the aim to lift collective GDP by more than 2 pct above the trajectory implied by current policies."

We recognize that monetary policy needs to remain accommodative in many advanced economies, to normalize in due course with the timing being conditional on the outlook for price stability and economic growth. This eventual development will be positive for the global economy and reduced reliance on easy monetary policy would be beneficial on the medium term for financial stability.

All our central banks maintain that monetary policy settings will continue to be carefully calibrated and clearly communicated in the context of ongoing exchanges of information and being mindful of the impacts on the global economy.