Going Lower: Emerging Market Central Banks Deliver 19th Month Of Interest Rate Cuts

LONDON: Emerging market central banks continued to trim interest rates in August, with policymakers trying to shore up their economies to battle the fallout from the coronavirus pandemic, though the pace of reductions continued to slow.

Interest rate moves by central banks across a group of 37 developing economies showed a net seven cuts in August following eight reductions in July and 16 in June and May each.

August marked the 19th straight month of net cuts – the longest easing cycle for emerging market central banks since 2013.

Graphic: EM central banks keep cutting rates https://graphics.reuters.com/EMERGING-RATES/xlbvgbyjqpq/chart.png

For an interactive version of the above graphic, click here https://tmsnrt.rs/3grAEai.

For a FACTBOX on global central bank rate responses to the coronavirus outbreak, click here:

For a FACTBOX outlining global economic policy response to the crisis, including fiscal policy:

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