Three central banks across the Asia Pacific delivered surprise interest-rate decisions on Wednesday as policymakers take aggressive action to counter a worsening global economy. New Zealand and India led with bigger-than-expected cuts, while Thailand’s 25-bp reduction was a surprise to all but two in a Bloomberg survey of economists.
Now a day’s currency is going to play another role in policymaker decision Policymakers are taking bolder steps to bolster their economies as escalating US–China trade tensions threaten to worsen global growth and currency battles roil financial markets. Investment activity is recovering but supported mainly by public spending on infrastructure.
With the limits of their defense against the oncoming downturn, Major central banks are grappling. In September, the European Central Bank has tipped a fresh round of monetary stimulus. It has also committed to a review of a range of tools to combat the severe slowdown on the continent.