G20 to calibrate pace of interest rate hikes, avoid spillovers - statement

Leaders of the Group of 20 (G2) major economies said on Wednesday their central banks will continue to calibrate the pace of monetary policy tightening, while being mindful of the need to limit "cross-country spillovers."

In a leaders' declaration, the G20 members also reaffirmed their commitment to avoid excessive exchange-rate volatility while recognising that "many currencies have moved significantly" this year.