FACTBOX: Policymakers' reaction to Fed rate cut
(Reuters) - The U.S. Federal Reserve slashed interest rates to a record low, bringing its target for the federal funds rate to a range of zero to 0.25 percent and vowed to use "all available tools" to turn back a deepening recession.
Following are international policymakers' comments on the Fed's unprecedented action.
NAOYUKI SHINOHARA, JAPANESE VICE FINANCE MINISTER FOR
INTERNATIONAL AFFAIRS:
"It was larger than the market has expected. It was a bold step."
JAPAN'S CHIEF CABINET SECRETARY TAKEO KAWAMURA:
"The abnormal rise in the yen could affect export industries and I hope that the BOJ will make a comprehensive consideration, including those factors to decide its monetary policy."
AMANDO TETANGCO, PHILIPPINE CENTRAL BANK GOVERNOR:
"The Fed move, to the extent it would be effective in spurring credit extensions by the private sector, would be positive for the rest of the economies in the world, including the Philippines."
"As the balance of risks to inflation point to the downside, we see greater leeway in monetary policy."
(Compiled by Tomasz Janowski, Asia Desk, Singapore)
