G7 Summit has come and gone - BBH
|Research Team at BBH, suggests that the G7 Summit has come and gone and the language of the final statement looked a touch softer, omitting Abe's warning of Lehman-like risks.
Key Quotes
“Still, officials recognized downside risk to the world economy. Although there were some platitudes toward policy coordination, investors will have to wait to see what this means, if anything, in practice.
One outstanding issue remains. Will Japan go ahead with the sales tax increase planned for next year? Through at least last week's finance ministers and central bankers G7 meeting, the Abe Administration was signaling it would. However, reports now suggest that by playing up the risks of a crisis, Abe will announce a postponement of the tax increase, perhaps as a part of a larger fiscal program.”
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