From the CBC:
No single remedy was recommended to bolster the global economy, but Bank of Canada governor Mark Carney indicated further interest rate cuts are likely needed in Canada.
The officials from the United States, Japan, Germany, France, Canada, Britain and Italy also urged oil-producing nations to boost output and encouraged China to accelerate the appreciation of its currency.
The G7 had faced calls for increased co-ordinated action to deal with a slew of economic problems, including the U.S. housing crisis over subprime mortgage loans, financial market turmoil, high oil and commodity prices, and heightened inflation expectations.
The U.S. has urged other countries to pursue policies to boost domestic demand, while the European countries focused more on regulatory co-ordination, saying their economies were resilient.
Japanese Finance Minister Fukushiro Nukaga, who hosted the gathering at a Tokyo hall, said the economic conditions in each nation were so different that a single remedy was not feasible.