Of course, this also weakens export driven economies like those in Asia (and in the US), which could lead to a "currency war" where rival central banks print money and reduce interest rates to keep their own currencies low.
South Korea ... currency fell 0.5% against the dollar and 0.7% versus the euro on the news.
Thailand’s decision to cut rates Wednesday also helps its exporters, who have been complaining recently about the baht currency’s relative strength.
No matter what the rhetoric is from central bankers, many of them are hoping that rate cuts help lower the value of their currencies versus those of their neighbors.
“They’re thinking of it in the context of currency wars,” said David Mann, chief economist in Asia at Standard Chartered Bank.
Use game theory to figure out where self interest is taking you; if you don’t like where that is, change the rules of the game.