But that space has been filled by non-bank financial institutions. Now that they can see inflation returning to its policy range, a softer labour market could bring its own risks. Across the Pacific, the Chinese government plans to set up a rescue fund for struggling financial institutions, aiming to prevent a financial crisis triggered by the real estate market slump. Hong Kong closed essentially unchanged after being in deficit for most of the session, but Tokyo closed down a sharpish -1.2%. The Kiwi dollar starts today unchanged from yesterday at 61.2 USc.

Source: Stuff June 24, 2024 22:49 UTC