Interest Rates: Riding growth wave, most Asian central banks to go slower than Fed on rate cuts
Asian central banks will cut interest rates slower than the U.S. Federal Reserve over the coming year, Reuters polls showed, as solid growth has eased pressure to maintain currency stability against a persistently strong dollar.
A jumbo 50 basis points Fed rate cut in September and expectations for two more quarter-percentage point reductions by end-year has provided wriggle room for central banks in Asian economies to consider their next moves.
The Fed is expected to cut rates by another 125 basis points next year, much more than Asian central banks. But with the U.S. economy showing continued resilience, the greater risk is for the Fed to move more gradually than speed up.
Also Read: Global economy set to cruise at a solid 3% growth rate next year
With inflation broadly within Asian central bank targets and growth still resilient, there is no urgency for most to be slashing rates much further.
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