Did the G-20 Just Signal Further Global Easing?

• Never believe a rumor until it is officially denied !
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  Did the G-20 Just Signal Further Global Easing? 
  by Deepanshu Bagchee, www.cnbc.com 
  Global finance ministers and central bank chiefs attending the Group of 20 nations (G-20) meeting in Moscow dismissed talk of currency war over the weekend and said they would “refrain from competitive devaluation.”
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  But by letting Japan off the hook and urging action to address the weak global economy, G-20 policymakers also signaled that further monetary and fiscal easing could lie ahead.
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  “There’s been lots of talk of currency wars, and we have not seen any such thing as a currency war,” Christine Lagarde, managing director of the International Monetary Fund, told journalists on Saturday.
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  (Read More: G-20 Defuses ‘Currency War,’ Japan Off the Hook)
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  Australia’s Treasurer Wayne Swan told CNBC the issue was “completely overblown.” And Japan’s finance minister sounded almost relieved, after his country was spared any criticism, despite pursuing a monetary policy that has led the yen to weaken 21 percent against the dollar since mid-November.
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  Instead what came out of the G-20 meeting was a statement that sounded strongly pro-growth.
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  “We recognize that important risks remain and global growth is still too weak, with unemployment remaining unacceptably high in many countries,” the final communique said. “Advanced economies will develop credible medium-term fiscal strategies … by the St. Petersburg summit.”
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  Meanwhile, the IMF seemed to bless further monetary easing in the euro zone, with Christine Lagarde telling reporters that there was further room to cut “interest rates in the euro zone, [which are] clearly higher than in many other regions including the U.S., U.K., and Japan.”
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