Nudging lower: Emerging market central banks extend easing cycle in

LONDON (Reuters) – Emerging market central banks revisited interest rate cuts in December, extending an easing cycle that started in 2019 and had exceeded the cuts during the 2008 financial crisis and the 2010 euro crisis.

Central banks across a group of 37 developing economies delivered one net interest rate cut in December after two net interest rate cuts in November and no change in October. A net four cuts in September had marked the 20th straight month of interest rate cuts, Reuters calculations showed.

At the peak of the last easing cycle in March, 27 of the 37 central banks cut interest rates, trying to protect their economies as the fallout from the coronavirus pandemic rippled through markets around the world.

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