Top officials from China, Japan and South Korea said on Sunday that they remain committed to implementing macroeconomic policies that will shore up demand.
Noting that the global economy is passing through an uncertain phase, and that growth remained uneven, central bankers and finance ministers from the three North Asian nations said demand-oriented structural reforms will continue to be a top priority, Reuters reported.
Following a trilateral meeting on the sidelines of an Asian Development Bank Meeting in Baku, Azerbaijan, the officials were quoted as saying that given the uncertain global environment, “monetary policy settings should be carefully calibrated.”
“We are committed to continue implementing timely and effective macroeconomic policies in order to help boost demand,” they were quoted as saying in a joint statement.
“Structural reforms to increase potential growth should continue to remain a high priority for a sustainable and balanced growth.”
The trilateral meeting, which was chaired by Japan’s Deputy Prime Minister and Finance Minister Taro Aso, came as the ADB’s board of governors began on Saturday a four-day annual meeting.
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