Treasury chief: governments should use all tools to boost growth

Reuters
U.S. Treasury Secretary Jack Lew attends a discussion about the U.S.-China economic relationship at Tsinghua University in Beijing, China, June 5, 2016. REUTERS/Jason Lee

WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew said on Monday that policymakers in Britain and other European nations and elsewhere should use all available tools, including fiscal and monetary policy and structural reforms, to boost global demand in the aftermath of the UK vote to leave the European Union.

In prepared remarks to the Bretton Woods Committee, Lew said he will continue to consult with his finance ministry counterparts on market conditions in the coming days, weeks and months.

"As we move forward, it is important to stress that U.K., European, and global policymakers have the tools necessary to support not just financial stability - but also to promote economic growth," Lew said. "And it is incumbent upon major economies to use all tools available - fiscal, monetary and structural reforms - to boost global demand and create the kind of inclusive economic growth that has been lacking worldwide."

(Reporting By David Lawder; Editing by Chizu Nomiyama)