Asia makes rate cut 'truly global'

China cut rates for the second time in as many months on Wednesday, supporting the joint action by six of the most important central banks to loosen policy. A host of other Asian central banks have also replicated the Federal Reserve-led move.

The Bank of Korea, the Central Bank of China (Taiwan), and the Central Bank of Kuwait and the all cut their key rates on Wednesday. The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (UAE), which cut rates in tandem

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