BOJ Kuroda calls for G-20 policy coordination vs market rout

[TOKYO] The Group of 20 major economies must take coordinated policy action as needed to mitigate the negative impact of volatile financial markets on the global economy, Bank of Japan Governor Haruhiko Kuroda said on Thursday.

"The United States, China, the euro zone and Japan ... must take coordinated action as needed," Mr Kuroda told an upper house financial committee meeting, when asked what will be discussed at the G-20 finance leaders' meeting in Shanghai next week.

"I don't know what specific steps could be taken as that will depend on what will be discussed at the G-20 meeting. I hope the meeting becomes a venue to stabilise global financial markets," he said.

REUTERS