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No "currency war", big nations say

Friday, February 15, 2013 - 00:29

Feb. 16 - World leaders of the G20 nations declare there will be ''no currency war'', as day two of their summit in Moscow gets under way. Rough Cut (no reporter narration)

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ROUGH CUT - NO REPORTER NARRATION The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy. The leaders posed for a group photo along with world finance chiefs on Saturday. Japan's expansive policies, which have driven down the yen, escaped criticism in a statement agreed in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy. A version of the leaders' final communiqué, however, included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.

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No "currency war", big nations say

Friday, February 15, 2013 - 00:29