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G20 host Australia urges central banks to avoid 'surprises'

Published on Feb 22, 2014 11:13 AM

SYDNEY (AFP) - G20 host Australia on Saturday urged better advance notice of policy changes by central banks to avoid shockwaves for emerging economies at a meeting of finance ministers where rifts over United States monetary policy loomed large.

Australian Treasurer Joe Hockey said he wants the summit to stay focused on ways to stimulate growth and create jobs in the aftermath of the 2008 financial crisis, adding he was confident of tangible results.

"I must say there is tremendous goodwill in all the meetings I have attended," he told reporters before Saturday's meetings began.

But the fallout being felt by emerging economies, which have suffered sharp capital outflows and losses to their currencies as a by-product of the Federal Reserve easing back its mammoth stimulus programme, remains a lightning rod issue.

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