(October 25 – 12:25 ET) – Economic developments in the past year refelct favourable, with strong growth and low or declining inflation, says the central bank governors and finance ministers of Canada, Mexico, and the U.S.
The group convened the sixth annual meeting of the North American Financial Group today. They say they are observing a slowdown in the U.S. economy, “to a more sustainable pace.”
The group also agreed that to maintain economic momentum “fiscal discipline should be maintained, monetary policy should continue to be prudent, and national saving should increase”. They reviewed the measures implemented by the three governments to contribute to the stabilization of international financial markets and promote sustainable long-lasting world economic growth.
Also under discussion were the challenges posed by the increasing integration of capital and trade markets and the impact of the oil market on the global economy.
-IE Staff