The Group of Seven finance ministers and central bank chiefs plan to discuss ways to deal with continuing global market turbulence, a credit crunch and U.S. recession fears during their one-day meeting Saturday in Tokyo, but few analysts expect them to agree on concerted international monetary or fiscal measures.
The meeting comes amid growing calls for policymakers in the richest economies to coordinate their actions more closely to fend off a global recession and restore confidence to financial markets hit by lingering concerns over the U.S. subprime mortgage crisis.
But the participants are not likely to agree on concrete actions such as coordinated interest rate cuts, said Kenichi Kawasaki, an economist at Lehman Brothers, because "the (economic) situation is different in each country."