From the the Financial Times (gated, but can be read with a free registration): Asian central banks seen eying rate cuts

  • PBOC rate cut has raised expectations that other Asian central banks will cut

JP Morgan say:

  • “On balance, we think it is a mistake to view this as part of a currency war. Rather Japanese policy is working together with falling global inflation to spark a turn toward easing in regional monetary policy.”
  • Thailand, India, and South Korea as those most likely to move towards looser monetary policy