Nomura Securities: The Federal Reserve's easing policy may prompt central banks in many Asian countries to cut interest rates ahead of schedule

Nomura Securities economists stated that the Federal Reserve's loose policy will lower the threshold for central banks in Asia to cut interest rates, but not all central banks will follow the Fed's footsteps.

Nomura predicts that the Central Bank of Philippines will cut interest rates in August instead of October, and Indonesia's Central Bank will do so in September rather than February next year.

The South Korean Central Bank may start cutting interest rates from October as its concern about rising house prices has replaced concerns about foreign exchange.

The Reserve Bank of India is expected to cut interest rates ahead of schedule in October. The Thai and Malaysian central banks are expected to keep their policy rates unchanged between 2024-2025, but Thailand's Central Bank might reduce its rate during Q4.