G7 Meeting on Friday

October 9, 2008

Finance ministers and central bank leaders from the United States, Japan, Germany, France, Britain, Italy and Canada, plus representatives from the EU, have their third and final scheduled meeting tomorrow in Washington.  This group coordinates currency market and other economic policies of shared interest.  These meetings provide a useful clearing house for information about economic trends in the developed economies, but they have been criticized for not involving the increasingly important developing countries.  A chronology of what the G7 said about currency market developments and official Forex policy at previous meetings since the 9/11 attacks can be read by clicking here.  This table also indicates the level of dollar/yen, euro/dollar, and oil prices at each of those meetings.  These G7 conferences are generally followed by a number of press conferences, and oftentimes the remarks by leaders after such meetings provide the most revealing bits of information relating to the cohesion or disharmony of the group.



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