The central bank governors of G20 nations held an informal meeting over breakfast on Saturday morning, the final day of the Finance Ministers and Central Bank Governors meeting here in Bengaluru.

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Among the attendees was the Reserve Bank of India Governor, Shaktikanta Das, who is jointly chairing the First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the G20 Indian Presidency along with Finance Minister Nirmala Sitharaman.

The breakfast table saw the likes of Jerome Powell, US Federal Reserve Chair, Brazil’s Roberto Campos Neto, Bank of Canada’s Governor Tiff Macklem, Ignazio Visco from Bank of Italy and Andrew John Bailey, Governor of Bank of England.

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The central bankers and finance ministers of G20 nations are expected to hold discussions over several sessions on the final day of the meeting, including the global economy, health and international taxation.

The G20 meeting this week covered issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’, and leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains. The sessions will also cover issues related to the global economy, global health, and international taxation.

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It is noteworthy that lending rates across the world have risen sharply in the past year as central banks try and battle the high inflation readings. In fact, the US Federal Reserve is expected to raise rates in its next policy if not the one after that. Market watchers and economists in India are also more or less aligned with an expectation of another rate hike at least by the RBI.

(Edited by : Abhishek Jha)

First Published:Feb 25, 2023 10:44 AM IST