G7 committed to keeping markets open – draft communique

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FILE PHOTO: Flags are placed at the G7 summit in Taormina

KOENIGSWINTER, Germany (Reuters) – The Group of Seven economic powers are determined to keep markets open, a draft G7 finance chief’s communique said on Thursday in the face of moves from some countries to impose export controls on scarce agriculture commodities.

“We are committed to keeping markets open and enhancing the resilience of agricultural and energy markets in line with climate and environmental goals,” said the communique that is to be finalised before the meeting ends on Friday.

It added that G7 central banks were closely monitoring the impact of price pressures on inflation expectations and would continue to calibrate the pace of monetary policy tightening according to economic data and in a clearly communicated way.

(Reporting by Jan Strupczewski; writing by Leigh Thomas and Angus MacSwan)