G7 'ready to take action' to stem coronavirus risksFear of the economic impact of the virus has governments and markets on edge. The G7 finance ministers and central bank chiefs held an emergency conference call as concerns grew that the spreading epidemic could imperil growth and possible drive some countries into a recession. "G7 finance ministers are ready to take actions, including fiscal measures where appropriate, to aid in the response to the virus and support the economy during this phase," the group said after the talks. "We stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks," European Central Bank chief Christine Lagarde said in a statement Tuesday. The Bank of England will "take all necessary steps" to support the UK economy from coronavirus fallout, said governor Mark Carney ahead of the G7 talks.

Source: Bangkok Post March 03, 2020 14:15 UTC