The bond and FX markets reacted, but the equity market went quiet at unchanged levels (although they may argue this gain was already priced in). But in the event, April consumer debt levels only rose +US$6.4 bln again, up just +1.5% from a year ago. Their jobless rate rose to 6.2%. In India, their central bank held its policy rate unchanged at 6.5% and said inflation's pressure at 4.85% is not changing much. The IMF is pointing out that growth without sufficient productivity improvement is a problem for the world's financial stability, especially when the largest economies drag the chain on productivity.

Source: Stuff June 10, 2024 01:48 UTC