TOKYO -- Earlier this year, most Asian countries wanted lower interest rates to gin up consumer spending and economic growth. But it was tough for Asian central banks to cut rates themselves ahead of the U.S., where the federal funds rate was at a 23-year high.
U.S. Federal Reserve Chairman Jerome Powell: The Fed's decision to cut rates for the first time in four years is expected to send ripples across Asia. (Nikkei montage/Source photo by Reuters)
Market Spotlight
Asian central banks in no rush to follow the Fed in cutting rates
Even those eager for monetary easing are likely to move gradually
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