Asian central banks rush to roll out easing measures
Japan expands asset purchases; Korea cuts rates; China extends lending and HKMA cuts capital buffer
Central banks in Japan and South Korea eased monetary policy further following emergency meetings today (March 16), after the Federal Reserve cut rates to zero over the weekend.
Korea cut rates to a record low while Japan promised to further expand its balance sheet.
Meanwhile, the Hong Kong Monetary Authority (HKMA) slashed banks’ countercyclical capital buffer to 1%, down from 2%, while the People’s Bank of China (PBoC) injected 100 billion yuan ($14.2 billion) into the market via its
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