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Nicholas Spiro: Caution is the word for Asia's central banks

Rate cuts are over, but the time is not yet ripe to tighten policy

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Bank Negara Malaysia is one of several central banks in developing Asia rethinking its policy stance.   © Reuters

With the global economy on an uncertain trajectory, China and the U.S. on the cusp of a trade war and commodity prices recovering, Asian central banks are reassessing their monetary policies. After rate cuts in the last year, central banks are now adopting a "wait-and-see" attitude.

Last July, Bank Negara Malaysia surprised markets by cutting its benchmark interest rate for the first time in seven years.

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