As per the early Monday Reuters news, “Finance ministers and central bank governors from China, Japan and South Korea vowed to provide necessary support by providing “targeted” measures for those most affected by the COVID-19 pandemic.”
The news piece covering updates from the Asian Development Bank’s (ADB) annual meetings also states that the policymakers pledged to, “achieve inclusive recovery, preserve long-term fiscal sustainability and maintain financial stability” in a joint statement.
Earlier in the day, updates from ADB suggest the policymakers said that the regional outlook has improved.
Reuters also quotes Asian policymakers saying, “We should remain vigilant as the economic recovery has been uneven.”
FX reaction
Although risk catalysts should have reacted positively to the news, the absence of China and Japan restrict market implications.
Read: S&P 500 Futures consolidate Friday’s losses below 4,200
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