Global: We cannot Spend Anymore: OECD’s Gurria
Secretary general of the Organisation for Economic Co-operation and Development (OECD), Jose Angel Gurria, stated in an interview that governments can no longer rely on either monetary or fiscal policies to support economic growth. (Source: CNBC)

Germany: Tumbling German Inflation Clears Way for ECB Blitz 
Slowing inflation in Germany may prompt the European Central Bank to cut interest rates. Economic analysts say that there are “growing signs of the deflationary virus becoming lodged in the system.” (Source: The Telegraph)

India: Rajan Holds Key India Rate, Signals Easing If Inflation Slows
At its monetary policy meeting held today, the Reserve bank of India decided to hold its key interest rate. This is the second consecutive meeting at which the monetary authority leaves rates unchanged and argued that so far there is no need to tighten the reins as consumer price inflation is gradually moving toward 8.0% this year and to 6.0% next year. The Bank’s decision was broadly expected by market participants. (Source: Bloomberg)

European Union: European Commission Stops Excessive Deficit Procedure for Six Countries
The European Commission decided to end the ongoing excessive deficit procedure against six countries, including the Netherlands, Belgium and Austria. Olli Rehn explained this decision by stating that the economic situation in the EU is improving gradually and that most EU countries have reduced their macroeconomic imbalances by implementing reforms. (Source: Frankfurter Allgemeine Zeitung, Language: German)

Thailand: Thai Confidence Jumps on Hopes Army Will Bring Order After Chaos Thai consumer confidence jumped to its highest level since January and reached 70.7 points in May. The main factor boosting sentiment was confidence in the future due to political clarity on hopes that the new military government will impose order in the country. (Source: Yahoo News)

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