G7 Statement and US interest rate cut BOJ considers additional countermeasures 5:45 on March 4
G7 = G7 finance ministers and central bank governors hold emergency telephone conference on Friday night to protect global economy from downside risks as financial markets turmoil due to spread of new coronavirus I wrote a message. Immediately after this, the United States has taken an urgent cut in interest rates, and the Bank of Japan has decided to consider necessary policies.
G7 finance ministers and Central Bank Governors have reported that stock prices in Japan and the U.S. last week have fallen to record levels since the Lehman Shock in the wake of the spread of the new coronavirus, increasing the risk of slowing the global economy. , An emergency conference call was held on the 3rd night of Japan time.
He issued a joint statement stating, "Use all appropriate policy instruments to protect the global economy from downside risks."
After the meeting, Deputy Prime Minister and Minister of Finance Aso said, "A situation that has never been experienced has occurred. I would like to cooperate with the G7 countries to ensure thorough global economic growth and financial market stability." Said.
Shortly after the announcement of this joint statement, the Federal Reserve Board, the central bank of the United States, held an extraordinary meeting to reduce financial market turmoil and decided to urgently cut interest rates.
The Bank of Japan has also provided extraordinary talks on Tuesday to supply the market with a large amount of money in an attempt to stop the market turmoil, but given the G7 joint statement and the Fed's urgent interest rate cut, the Bank of Japan has also added We are going to consider countermeasures.