The booming US economy is driving a wedge between the fortunes of the world’s largest economy and those of emerging markets, the Bank for International Settlements says in its latest quarterly review.
Fiscal stimulus has coincided with “very easy” financial conditions – “if anything, they eased further” over the past quarter, Claudio Borio, the head of the BIS’s monetary and economic department, told journalists.
The loose conditions launched US growth to an annualised rate of 4.2% in the
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