G20 communique to stick to July wording on spillover effects - Russia

Thu Sep 5, 2013 5:24am EDT
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ST. PETERSBURG, Sept 5 (Reuters) - The Group of 20 summit's closing communique will stick to the wording agreed by finance ministers in July on so-called spillover effects caused by shifts in monetary policy, Russian Deputy Finance Minister Sergei Storchak said on Thursday.

"It's not going to be more than the agreements that were reached in Moscow," Storchak told Reuters in an interview on the sidelines of the summit in St. Petersburg.

Finance ministers and central bank heads meeting in Moscow in July said in their joint statement that the group remained mindful of the risks of extended periods of monetary easing.

They also said that future changes to monetary policy should be "carefully calibrated and clearly communicated". The statement reflected widespread concern over the impact that a withdrawal of U.S. stimulus would have on the global economy.