UK finance minister Osborne says G-7 to discuss what central banks can do to nurture recovery

LONDON – What more the world’s top central banks can do to shore up the global economic recovery is expected to feature large at a meeting of finance ministers and central bankers from the seven leading industrial economies.

In a statement Friday ahead of the Group of Seven meeting at a country house around 50 miles (80 kilometres) northwest of London, British finance minister George Osborne says the main task over the coming two days is how to nurture the recovery.

He says participants will consider what “more monetary activism can do to support the recovery.”

Currencies are likely to feature, as the dollar has breached the 100 yen mark for the first time in over four years.

The G-7 consists of the U.S., Canada, Germany, France, Italy, Japan and Britain.