G20 finance ministers and central bank governors will use the monetary policy tools to boost the global economic growth

The G20 finance ministers and central bank governors said at the G20 summit in Shanghai on Saturday that they will use the monetary policy tools to boost the global economic growth.

“We will use all policy tools — monetary, fiscal and structural — individually and collectively,” they said.

The G20 finance ministers and central bank governors also said that downside risks to the global economy increased.

“Downside risks and vulnerabilities have risen, against the backdrop of volatile capital flows, a large drop of commodity prices, escalated geopolitical tensions, the shock of a potential U.K. exit from the European Union, and a large and increasing number of refugees in some regions,” they noted.

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