G20 leaders' declaration: G20 central banks are strongly committed to achieving price stability

Dhwani Mehta FXStreet

The G20 leaders' declaration published on Wednesday, stated that “G20 central banks are strongly committed to achieving price stability, in line with their respective mandates.”

Additional takeaways

Central banks will continue to appropriately calibrate the pace of monetary policy tightening in a data-dependent and clearly communicated manner while limiting cross-country spill-overs.

Central bank independence is crucial to achieving price stability, and buttressing monetary policy credibility.

Countries must take temporary and targeted measures to help sustain purchasing power of most vulnerable, cushion the impact of commodity price increases.

Market reaction

The US Dollar Index was last seen trading modestly flat at around 106.50.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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