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G20 central banks committed to achieving price stability

The adoption of the joint declaration was the main intrigue of the two-day summit of G20 nations that took place on the Indonesian island of Bal

BALI /Indonesia/, November 16. /TASS/. Central banks from G20 states are strongly committed to achieving price stability, according to the Group of Twenty’s (G20) joint declaration approved on Wednesday following the Bali-hosted summit.

"To that end, they are closely monitoring the impact of price pressures on inflation expectations and will continue to appropriately calibrate the pace of monetary policy tightening," the document reads. "Central bank independence is essential to achieving these goals and buttressing monetary policy credibility," according to the declaration.

The adoption of the joint declaration was the main intrigue of the two-day summit of G20 nations that took place on the Indonesian island of Bali. Until the last moment, it was not guaranteed that the final text would be approved. Numerous sources close to the talks noted that Indonesian President Joko Widodo personally worked hard to ensure that the summit would end with the adoption of the final document.

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