There have been a number of suggestions recently that some central banks in Emerging Asia, namely in Taiwan and Korea, might be about to adopt some of the unconventional policy measures that are being tried by the world’s major central banks. Evidence from other countries that have tried similar policy steps is hardly reassuring. The upshot is that if growth in Emerging Asia did take a turn for the worse, some of the region’s central banks may find themselves able to do little about it.
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