March 9, 2020 / 5:52 AM / 19 days ago

G7 nations must coordinate monetary, fiscal policies - Japan's Aso

FILE PHOTO: Japanese finance minister Taro Aso takes questions at the annual meeting of the International Monetary Fund and World Bank in Washington, U.S., Oct. 18, 2019. REUTERS/James Lawler Duggan/File Photo

TOKYO (Reuters) - The Group of Seven (G7) major economies must coordinate monetary and fiscal policies to stave off risks to the global economy from the coronavirus impact, Japanese Finance Minister Taro Aso said on Monday.

He also said there were limits to what more monetary policy could do to spur economic growth, which meant fiscal policy had a bigger role to play.

“The G7 countries need to work together. Otherwise, (the coronavirus outbreak) could have a significant impact on the global economy,” Aso told parliament.

Reporting by Leika Kihara; Editing by Chris Gallagher

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