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G-7 Vows to Cooperate for Market Stability after Brexit Vote

G-7 Vows to Cooperate for Market Stability after Brexit Vote

   Tokyo, June 24 (Jiji Press)--Top financial officials of the Group of Seven major industrial nations issued a joint statement Friday showing their determination to keep closely cooperating to stabilize financial markets shaken by Britain's vote to leave the European Union in Thursday's referendum.
   "We will continue to consult closely on market movements and financial stability, and cooperate as appropriate," the G-7 finance ministers and central bank governors said in the statement to sum up their emergency talks over the phone.
   "We recognize that excessive volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability," they said.
   Central banks, including the Bank of Japan, the U.S. Federal Reserve, the European Central Bank and the Bank of England, are ready to provide dollar funds to ensure sufficient liquidity in financial markets, the statement noted.
   In a separate statement, Japanese Finance Minister Taro Aso and BOJ Governor Haruhiko Kuroda issued a yen-selling market intervention warning, after the dollar plunged below 100 yen earlier Friday.

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AFP-JIJI PRESS NEWS JOURNAL


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