The G20 finance ministers and central bank governors' meeting was held in Bangkok, Thailand, where participants discussed the risk that a prolonged disruption in the Middle East could sustain high crude oil prices. Japan was represented by Finance Minister Katayama Satsuki (片山さつき) and Bank of Japan Governor Ueda Kazuo (植田和男), and the meeting was largely positioned as a final round of coordination ahead of the leaders' meeting in December.
The meeting of finance ministers and central bank governors from the 20 countries and regions (G20) was held in Bangkok, Thailand. With the disruption in the Middle East expected to persist, participants discussed how to address the risk that persistently high crude oil prices could weigh on global economic growth. The countries confirmed how policy coordination, including monetary policy, should be pursued.
Japan was represented by Finance Minister Katayama Satsuki (片山さつき) and Bank of Japan Governor Ueda Kazuo (植田和男). The meeting was positioned as a final round of coordination ahead of the summit in December and is widely expected not to issue an outcome document.
In comments to reporters before the meeting, Katayama Satsuki (片山さつき) pointed to uncertainty over the outlook for the global economy and said that rising interest rates worldwide would also be an issue for the G20, particularly the G7.