Emerging-Market Interest Rate Cuts Are Plumbing the Depths

(Bloomberg) -- Developing nations have lowered borrowing costs by a combined 5,510 basis points since the beginning of 2019, compared with 225 for the U.S., according to data compiled by Bloomberg. The cutting cycle deepened since March as the coronavirus pandemic spurred unprecedented easing by central banks. Turkey alone accounted for almost a third of the total, though countries from Brazil to Thailand have joined the party.

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