Canada's Dodge says G7 wary of global deflation

The G7 needs to move swiftly to correct global imbalances in savings and investment or face the risk of worldwide deflation within ten years, Bank of Canada governor said on Tuesday 4 October.

In an opinion piece published in the Financial Times, David Dodge said the recent meeting of the G7 -- which, along with Canada, consists of the United States, Japan, Germany, France, Britain and Italy -- stressed that cutting global imbalances while maximizing growth was a "shared responsibility."

"If po

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