, Columnist
Asia’s Triple Rate Cuts Send a Call to Action
A trio of surprises shows just how far and fast the economic landscape has changed for the worse.
Japanification is no longer a northern-hemisphere disease.
Photographer: Mark Coote/Bloomberg
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Get on with it. And if you want to stand out in these times, offer a surprise to boot.
That's the message from three very different central banks in a trio of equally divergent Asian economies. Officials in India, New Zealand and Thailand all cut interest rates Wednesday. Each defied consensus in its own way: the first two with the magnitude of reductions, the third by cutting at all.