G8 Topics To Include Role Of Central Banks, Free Trade, Tax Evasion and Transparency

Group of Eight (G-8) talks set to be held in Ireland early next week could touch on central banks and monetary policy, amid divergent views on the right roles of the influential institutions, Reuters said Thursday.

One German official told Reuters that the wide differences in the roles and actions of central banks in recent months will come under discussion.

Under Prime Minister Shinzo Abe, the Bank of Japan has unleashed a flood of monetary stimulus since April, while U.S. markets have speculated over whether the U.S. Federal Reserve will slow down its program of bond buying.

The European Central Bank, which is independent of any single nation’s government, has focused more on stability than bold policy measures. It chose to hold its interest rate steady at 0.5 percent last week.

In a research report by the University of Toronto, European Commission President José Manuel Barroso indicated that he’ll focus on free trade, tax evasion and transparency as key topics.

In the same publication, French President François Hollande also cited those three things as priorities, agreeing with the position suggested by the U.K., which presides over the summit this year. Hollande will also push for strengthened partnerships among G8 nations, the eight wealthiest in the world, and Africa.