Central banks in New Zealand, India and Thailand all announced larger-than-expected cuts to interest rates on Wednesday, furthering a global trend of monetary policy easing.
for a fourth straight meeting this year, while the Bank of Thailand unexpectedly cut its rate by 25 basis points for the first time since 2015., twice the expected level, to take its official cash rate to an all-time low of 1%. The Reserve Bank of Australia, meanwhile, held rates at a record low following cuts in June and July.
The main takeaway from the raft of monetary policy easing points to central banks signaling major concerns about the outlook for economic growth, and resorting to sharp monetary policy action in order to stave off a downturn. Central banks often resort to lower interest rates in environments like this in order to boost money supply in the economy, stoke demand and provide an impetus to growth.
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