World finance officials to consider how to cushion economies against coronavirus

South Korean soldiers in protective gears sanitize shacks as a luxury high-rise apartment complex is seen in the background at Guryong village in Seoul, South Korea, March 3, 2020. REUTERS/Heo RanShare this contentBEIJING: G7 finance officials will on Tuesday discuss ways to bolster their economies against the impact of the spreading coronavirus outbreak, but are not expected to specifically call for new spending or coordinated interest rate cuts, a G7 official said.

"The question is what they will do? Monetary policy is already very loose and interest rates are very low," he said. The coronavirus, which emerged in the central Chinese city of Wuhan late last year, has spread rapidly around the world over the past week, with more new cases now appearing outside China than within.

All travellers entering Beijing from the hot spots of South Korea, Japan, Iran and Italy would have to be quarantined for 14 days, a top city official said. Shanghai has introduced a similar quarantine order.

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South Korea: Stocks trim gains as coordinated G7 response hopes dashed[SEOUL] South Korean shares closed higher on Tuesday, but well off early gains, after a Reuters report dented hopes for a round of strongly coordinated stimulus measures by the G7. Read more at The Business Times.
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