(Dec 6): Asian governments are starting to do their bit to revive economic growth as central banks gradually pull back on monetary policy easing.

Japan’s government announced a stimulus package Thursday worth some 26 trillion yen ($325 billion), with about half coming from government spending. That came a day after Hong Kong announced additional steps to shore up businesses suffering from months of political unrest.

“We’re going to see more of this,” said Hak Bin Chua, a senior economist at Maybank Kim Eng Research in Singapore. “The space for monetary policy has narrowed, given how close interest rates are to the zero bound. There’s an increasing recognition that you can’t just depend on central banks; governments have to provide support through fiscal policy.”

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