South Korea, Indonesia cut key rates, more Asian policy easing seen
(WorldNews Indonesia)

SEOUL/JAKARTA — South Korea and Indonesia cut their benchmark interest rates for the first time in years on Thursday, not waiting for an expected reduction soon in U.S. rates as they aim to help borrowers cope with mounting risks to economic growth. The Korean cut, unlike the Indonesian one, surprised economists who anticipated a move by Seoul only after a Federal Reserve’s policy decision due on July 31. And both left the door open for further easing. Global risks are on the rise as the Sino-U.S. trade war drags on, dampening business confidence and deterring investment, and Asian economies are feeling additional pressure as China’s growth cools to near 30-year lows. Both...