Analysts were divided on whether the central bank would cut by more than a quarter-point. The central bank said that a fall in the consumer price index last month justified the more severe move of a 50 basis-point cut.
The consumer price index fell by 0.2% last month, but inflation for the year to February rose to 3.6%. The central bank said it expected inflation to fall further in March.
"The forces that served to
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- The Bank of Italy’s approach to risk-based budgeting
- Dudley backs floor-based system for setting monetary policy
- Asian Infrastructure Investment Bank – Raising expectations