Goldman Sachs: Affected by the risk of U.S. tariffs, Asian countries are expected to slow down the pace of interest rate cuts
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2024-11-25 15:03:01 7,659
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Goldman Sachs Group said that given the strength of the U.S. dollar and the risk of tariffs imposed by the Trump administration, Asian central banks will cautiously advance further easing policies, Golden Finance reported. Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, said Goldman Sachs does not expect the Bank of Korea to cut interest rates further this week. Last week, Indonesian officials had warned that room for lower borrowing costs had narrowed due to political developments in the United States. Tilton said, "With the potential for tariffs to come and the dollar being close to multi-decade highs, we think the pace of rate cuts will be quite slow. I think the dollar is also an important factor because exchange rates and exchange rate stability are very important for countries in Asia." It’s very important for the central bank.”