"Crucial": G20 finance ministers support central bank independence

The issue of central bank independence is relevant, as Trump has repeatedly criticized US Federal Reserve Chairman Jerome Powell regarding the level of interest rates. UNN reports with reference to Reuters.

Details

In Durban, South Africa, G20 finance ministers signed a statement emphasizing the importance of central bank independence.

Ministers and central bank representatives pledged to strengthen cooperation, signing their first communiqué since October 2024, a month before President Donald Trump's election victory and the subsequent tariff war.

The joint G20 statement says that "Central banks are firmly committed to ensuring price stability in accordance with their mandates and will continue to adjust their policies based on available data."

Central bank independence is crucial to achieving this goal

The communiqué also recognizes "the importance of the World Trade Organization for advancing trade issues."

At the same time, it is noted that the organization needs reform.

It should be noted that US Treasury Secretary Scott Bessent was not present at the two-day meeting in the port city of Durban, and the United States was represented by Acting Deputy Undersecretary for International Affairs Michael Kaplan.

The issue of central bank independence became a key topic of the meeting after Trump's repeated criticisms of US Federal Reserve Chairman Jerome Powell for not lowering interest rates, which shook global financial markets.

Recall

US President Donald Trump is considering firing Fed Chairman Jerome Powell due to disagreements over monetary policy.