Slowly lower: Emerging market central banks cut interest rates for 18th month

Emerging market central banks continued to cut interest rates in July as policymakers battling the fallout from the coronavirus pandemic tried to shore up their economies, though the pace of reductions has slowed down considerably.

Interest rate moves by central banks across a group of 37 developing economies showed a net eight cuts in July following 16 cuts in June and May each.

July marked the 18th straight month of net cuts - the longest easing cycle for emerging market central banks since 2013.

Graphic: EM central banks keep cutting rates EM central banks keep cutting rates https://graphics.reuters.com/EMERGING-RATES/xlbvgbyjqpq/chart.png

By Karin Strohecker and Ritvik Carvalho