The cut, which leaves the benchmark monetary-policy rate a 2.25%, is the third-straight loosening. It is also the second consecutive 250-basis-point cut.
Most analysts expected a cut of between 150 and 200 basis points. But the central bank said a steeper move was needed to bring the rate "closer to a level consistent with the current macroeconomic environment
- Central banks may be thinking wrongly about inflation – Borio
- European Commission announces supervisory agency reforms
- Bank of Russia will be able to handle fallout from failing banks, analysts say
- Riksbank outlines three visions of ‘e-krona’
- All central banks may have to consider crypto-currencies – BIS