MOSCOW (Reuters) - Finance ministers and central bankers from the Group of 20 nations are meeting in Moscow under Russia's presidency.
Following are key quotes from the meeting.
ECB PRESIDENT MARIO DRAGHI
"All this chatter that has been undertaken in the past few weeks is either inappropriate or fruitless - in all cases it's self-defeating."
"The exchange rate is not a policy target, but the exchange rate is important for growth and price stability."
"We don't believe that inflating budget deficits to create demand is sustainable."
FEDERAL RESERVE CHAIRMAN BEN BERNANKE
"Consistent with the G7 policy statement, the United States is using domestic policy tools to advance domestic objectives."
JAPANESE FINANCE MINISTER TARO ASO
"We explained our stance and other countries voiced no such opinions as approval or objection."
"We stick to our policy, and consequently it (the yen weakening) happened. But that was not our target. Our target is getting out of recession and deflation. That is the main target."
"Some emerging economies said that we should pay heed to spillover effects from monetary easing by advanced economies."
BOJ GOVERNOR MASAAKI SHIRAKAWA
"We are conducting monetary policy focusing on the stability of our domestic economy by escaping deflation and achieving sustainable growth under price stability."
"The biggest factor behind the yen's weakening lies in receding risk aversion among investors ... Demand for the safe-haven yen has declined and that has caused the yen to weaken."
U.S. TREASURY OFFICIAL LAEL BRAINARD
"G20 members will have to bring their exchange rate frameworks into alignment so that we grow together and avoid a downward spiral or beggar-thy-neighbor policies."
"It is important that all G7 members honor these commitments and avoid loose talk about currencies.
"G7 members pledged that their fiscal and monetary policies should be pointed toward domestic objectives....G7 should use domestic instruments and not exhange rates."
"It's very important to calibrate the pace of fiscal consolidation ... important to see demand in the euro area and some of that must take place through internal rebalancing."
CANADIAN FINANCE MINISTER JIM FLAHERTY
"While sound, medium-term plans to balance our budgets must be in place, this does not preclude us from also taking actions to promote jobs and growth, and position our countries for long-term prosperity."
"I am concerned with the escalation of 'currency war' rhetoric, which ... is contributing to the uncertainty that is holding back stronger growth."
"We must send a signal by being unequivocal and united in our support for market-determined exchange rates and our opposition to protectionism."
RUSSIAN DEPUTY FINANCE MINISTER AND G20 SHERPA SERGEI STORCHAK
"There will be no specific mention of Japan (in the G20 communique) - we are all in the same boat."
"There are lots of questions. Drafting is always difficult."
AUSTRALIAN TREASURER WAYNE SWAN
"Insofar as they are deploying fiscal and monetary policy to try to drive stronger economic growth, everybody's got a stake in that."
"The G20's always been a strong advocate of market-based exchange rates. The Chinese have been moving in that direction and ... they've also been engaged in a redirection of their economy towards greater domestic consumption."
EU ECONOMIC AND MONETARY AFFAIRS COMMISSIONER OLLI REHN
"The G20 should focus more on reforms than on short-term fiscal and monetary stimulus."
SOUTH AFRICAN DEPUTY CENTRAL BANK GOVERNOR DANIEL MMINELE
"The issue may be overdone and overblown a little bit. None of us goes out there and declares war on each other and says we are going to take this deliberate action to inflict damage on somebody else.
"At the end of the day we have to assume that these countries, which happen to play a very important role in the global context, (take) action to try to lift the growth potential in their economies, to give the recovery some legs or reflate their economies, and if that were to lead to overall better growth prospects in their economy then we all benefit."
INDONESIAN DEPUTY CENTRAL BANK GOVERNOR HARTADI SARWONO
"If the Japanese increase their domestic demand it will help Indonesia, especially from the export side."