Korea’s decision to cut its benchmark rate appears to help weaken the won, benefiting the country’s exporters. “Abenomics” was blamed for the unseen move. Are most Asian nations at risk of having to take the same approach? CT asks the experts.
Frances Cheung, senior strategist, Credit Agricole CIB:
We are tempted to attribute the last policy rate cut from the Bank of Korea to monetary easing elsewhere and the intention to curb the won gain amidst a weakening yen. The won and the Taiwan dollar usually come to one’s mind when the yen weakens.
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