Asian central banks to ease further, but effects may be muted: Reuters poll
By Ashrith Doddi and Deepti Govind
BENGALURU (Reuters) - Emerging Asian central banks are expected to cut interest rates again in the coming months, but economists polled by Reuters are doubtful the moves will significantly boost growth or inflation.
The findings echo results from earlier this week in Reuters surveys of more than 250 economists in Europe and North America who also expect more easing.
But the polls there showed only modest upgrades to growth estimates and a still depressed outlook on inflation.[ECILT/WRAP]
Twenty-seven central banks around the world have eased monetary policy in some manner or other so far this year.
The Reuters surveys across Asia, which bring the total number of forecasters polled above 300 globally this week, found nearly all central banks in the region, with a few exceptions such as New Zealand and South Korea, were set to ease policy again.
The People's Bank of China will probably loosen policy most in the region and is expected to cut both of its two key interest rates by end-June and lower banks' reserve requirement ratio again soon afterward. [ECILT/CN]
The PBOC cut its benchmark lending rate by 25 basis points last month, followed by an aggressive one-percentage-point cut in banks' reserve requirement ratio over the weekend.
The Reserve Bank of India, which has already cut rates twice outside regular meetings since January, will probably do so once more ahead of its June meeting and lower its benchmark repo rate again before the end of this year. [ECILT/IN] Continued...