G7

More rate cuts on the horizon and G7 worried about the strength of the Yen posing problems on financial stability.  Looks like Yen is not so Yum Yum after all.  

From the Great Wiki of Knowledge....

The G7 (also known as the G-7 or Group of Seven) is the meeting of the finance ministers from a group of seven industrialized nations. It was formed in 1976, when Canada joined the Group of Six: France, Germany, Italy, Japan, United Kingdom, and United States of America.^[1] The finance ministers of these countries meet several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 Finance Deputies.^[2]

It is not to be confused with the G8, which is the annual meeting of the heads of government of the aforementioned nations, plus Russia.

The G7 held a meeting on April 11, 2008 in Washington D.C.^[3]and met again on October 10, 2008, in Washington D.C, to discuss the globalfinancial crisis of 2007-2008.^[4] The group of finance ministers has pledged to take "all necessary steps" to help stem the crisis.^[5]

References

1. ^ "The early history of the G7". Britannica Online. Retrieved on 2008-10-22.
2. ^ "Who Are the group of Seven?". Women's International Media group. Retrieved on 2008-10-22.
3. ^ Bo Nielsen, "G7 Statement Fails to Convince Major Traders to Change Outlook, Bloomberg L.P., April 14, 2008
4. ^ Simon Kennedy, "G7 `Against the Wall,' Weighs Loan-Guarantee Plan (Update1), Bloomberg L.P., October 10, 2008 08:06 EDT
5. ^ Simon Kennedy, "G7 Commit to 'All Necessary Steps' to Stem Meltdown (Update3), Bloomberg L.P., October 11, 2008 20:56 EDT