Banks that choose to wait may be pressured to move more aggressively. That may be the case for the Reserve Bank of New Zealand (RBNZ), which left rates unchanged last month, according to Eleanor Creagh, a strategist at Saxo Capital Markets in Sydney.
SINGAPORE: Central bankers across Asia-Pacific must consider whether they can afford to wait until their next scheduled policy meetings or respond sooner to mounting global risks from the Covid-19 coronavirus outbreak and oil-price plunge.
The Federal Reserve set the pace with an emergency 50 basis-point interest rate cut last week. None of Asia’s central banks immediately followed the Fed, but some have added liquidity. The Bank of England reduced its key rate in an unscheduled move on Wednesday and announced measures to keep credit flowing.
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