Bloomberg läßt sich offenbar nicht verlinken.. Was auffällt, Japan wird die Früchte seiner lokeren Geldpolitik bald ernten, die Wirtschaftslokomotive bleibt die USA, deren Wirtschaft nach den letzten Zahlen 'überraschend' stark gewachsen ist!? Davon profitiert natürlich auch Europa/ Japan, insbesondere durch den starken Dollar der offenbar noch stärker werden kann (lt. Analyst). Das ist doch eine gute Nachricht, oder? Argentinien hat endlich den Peso freigegeben, nur könnten auch die 20 Mrd des IWF freigegeben werden?
Alles wieder gut.
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G-7 Says Prospects for Recovery Have `Strengthened' (Update5)
By Farah Nayeri, Iain Rogers, Brendan Murray, Mayumi Otsuma, Kevin Carmichael and Sonja Dieckhoefer
Ottawa, Feb. 9 (Bloomberg) -- The outlook for a global economic recovery has improved since October, finance ministers and central bankers from the Group of Seven nations said after a two-day meeting. They pledged to take steps to make sure growth doesn't falter.
``Since we last met, prospects have generally strengthened for resumed expansion in our economies, although risks remain,'' the officials said in a one-page statement. They refrained from promising financial aid to Argentina, which is trying to cope with history's largest debt default.
``People were more optimistic than they were three months ago,'' Bank of Canada Governor David Dodge said at a press conference. ``The signs are that we've turned a corner.''
G-7 officials -- from Canada, France, Germany, Italy, Japan, the U.K. and the U.S. -- met yesterday and today amid indications of recovery in the U.S. and Europe, and with Japan mired in its third recession in a decade.
Dodge added that there are ``risks'' that investment, particularly in the U.S., may not pick up enough to ensure a lasting global recovery.
On currencies, the G-7 ministers said only that they would ``continue to monitor exchange markets closely and cooperate as appropriate,'' repeating language from previous statements.
Evidence of Rebound
The ministers ``brushed by'' discussion of the yen, euro, and dollar ``like you wouldn't believe,'' U.S. Treasury Secretary Paul O'Neill said. Japanese Finance Minister Masajuro Shiokawa told reporters the group didn't discuss foreign-exchange rates ``at all,'' during their meeting.
As investors bet on a U.S. rebound, the dollar rose last month. That pushed the yen to a three-year low, the euro to a 6 1/2-month low and Canadian dollar to a record low 61.75 U.S. cents.
``Levels of foreign-exchange rates should be determined by market movements and the G-7 members share this view, which is a common sense'' position, Shiokawa said.
Traders said the G-7 statement suggested the yen would fall further. ``There is no hint from the G-7 they believe dollar-yen has gone too far,'' said Sean Callow, a currency strategist at IDEAGlobal.com in New York. ``I really don't think there is anything at all to stop people from breaking through'' the dollar's recent high of 135.14 yen, reached at the end of January, Callow said.
ECB Rates `Appropriate'
The statement ``definitely leaves the market to carry on its way, with potentially a weaker yen, a stronger U.S. dollar and a weaker Canadian dollar,'' said Dustin Reid, associate director of foreign exchange strategy at UBS Warburg in Stamford, Connecticut.
After the U.S. economy unexpectedly grew in the fourth quarter and consumer confidence reached a five-month high in January, Federal Reserve policy makers stood pat on interest rates Jan. 30, after cutting them 11 times last year.
The Bank of England cut rates seven times in 2001, and the European Central Bank four times. ECB President Wim Duisenberg said after today's meeting that borrowing costs in the 12 nations that share the euro are ``appropriate'' for now.
European business confidence rose in January to the highest since the Sept. 11 terrorist attacks, and German industrial production increased in December for the first time in four months.
``I do expect the U.S. to recover gradually and to give Europe some impetus,'' Werner Marnette, chief executive of Norddeutsche Affinerie AG, Europe's largest integrated copper producer, said in an interview this week.
Argentina
The statement made no specific reference to Japan, though the ministers did discuss the country's plans to end deflation and get out of recession.
Dodge said Japanese officials vowed to take steps to remedy the country's debt-ridden banking system, one of the main obstacles to growth in the world's second-biggest economy. The country's economic changes ``will accelerate,'' Shiokawa said.
Bank of Japan Governor Masaru Hayami said Japan's economy likely will ``suffer pains'' as the economy is restructured. ``However, once private businesses regain their confidence, we will see clear effects of our easy monetary policy,'' he said. The BOJ lowered its benchmark interest rate to zero last year.
The ministers ``were satisfied'' with Shiokawa and Hayami's presentations, O'Neill said.
The officials made no promises on aid to Argentina, saying the country's progress in reviving its economy and handling its debts would be reviewed at the group's next meeting.
Argentine President Eduardo Duhalde wants as much as $20 billion in IMF loans as the country prepares to float its currency Monday. On Tuesday, Argentine Economy Minister Jorge Remes Lenicov travels to Washington to seek help from the lender.
The country has drawn about $20 billion in IMF loans in the past decade -- about half of that in 2001. The fund said last month said it would withhold further disbursements to Argentina because the government failed to cut its budget gap.
``We've been very supportive of the steps Argentina has taken,'' Canadian Finance Minister Paul Martin said at a press conference, citing the floating of the peso. ``But we believe it's very important that Argentina work closely with the IMF in order to bring about a plan that will be sustainable.''
The G-7 said it welcomed Russia's ``strong growth and significant structural reforms,'' and its members ``agreed on the importance of Russia's early accession to the World Trade Organization.''
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