rbi speech, 2006-05-11
Key elements of the strategy towards orderly resolution of the global imbalance suggested in the Communiqué are as follows:- Raising national saving in the United States - with measures to reduce the budget deficit and spur private saving;- Implementing structural reforms to sustain growth potential and boost domestic demand in the euro area and several other countries;- Further structural reforms, including fiscal consolidation, in Japan;- Allowing greater exchange rate flexibility in a number of surplus countries in emerging Asia; and,- Promoting efficient absorption of higher oil revenues in oil-exporting countries with strong macroeconomic policies.
Sentiment: neutral
Topic: mp_economic_activity