G7 leaders wrap up a summit, vow to seek strong global growth

G7 leaders wrapped up a summit in central Japan vowing to use "all policy tools" to boost demand and ease supply constraints. Japanese Prime Minister Shinzo Abe said the G7 "shares a strong sense of crisis" about the global outlook.

In the broad-ranging, 32-page declaration, the G7 committed to market-based exchange rates and to avoiding "competitive devaluation" of their currencies, while warning against wild exchange-rate moves. The following are the main points that emerged from the discussions:

- G7 confirms commitment to market determined FX rates

- Will consult closely in regard to actions in FX markets

- We reaffirm our commitments to keep markets open, fight all forms of protectionism

- We reaffirm our fiscal, monetary policies will remain oriented to meeting our respective domestic objectives and not target FX rates

- We underscore importance of countries refraining from competitive devaluations

- Excess volatility, disorderly moves in FX rates can have adverse implications for economic, financial stability