China has again unexpectedly cut interest rate today, twice in a month. Deposit and lending rates are reduced to 3% and 6% respectively. Yesterday, ECB cut its deposit rate to record low, exactly ZERO! BOE just printed another GBP50 billion to "stimulate" the economy. 3 central banks acting in concert? Reuters has the news.
What about Malaysia? Bank Negara says "... there continues to be considerable uncertainties in the global economic and financial environment" but rate is maintained at 3%. The music is still on, let's continue dancing.
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