The G20 finance ministers have stressed that central banks must remain independent, after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell.
It was the first communique under South Africa’s G20 presidency and marked a rare consensus reached by a bloc jolted by the drastic trade policies of its richest member, the United States.
“Central banks are strongly committed to ensuring price stability, consistent with their respective mandates, and will continue to adjust their policies in a data-dependent manner,” the group said after a finance ministers’ meeting in South Africa.
“Central bank independence is crucial to achieving this goal,” it said in the statement, also signed by the United States.