Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    CGTN: Why does China stick to the path of common prosperity?

    June 6, 2023

    Game-changing Macs: Apple launches Mac Studio and Mac Pro with revolutionary Apple silicon

    June 6, 2023

    Apple redefines laptop excellence with the thinnest 15-inch MacBook Air

    June 6, 2023
    Facebook Twitter Instagram
    Syria News FlashSyria News Flash
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Syria News FlashSyria News Flash
    Home » Asian central banks have been urged by the IMF to tighten policy further
    Business

    Asian central banks have been urged by the IMF to tighten policy further

    October 14, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The International Monetary Fund has stated that most Asian central banks must tighten monetary policy further. This is because rising commodity prices and their currencies’ depreciation, driven by steady U.S. interest rate hikes, contribute to inflation exceeding their targets. China and Japan are exceptions, where the economic recovery has been weaker, slack remains substantial and inflation has not risen as sharply as elsewhere. This is according to Krishna Srinivasan, director of the IMF’s Asia and Pacific Department.

    Asian central banks have been urged by the IMF to tighten policy furtherAs U.S. monetary tightening led to wider interest rate differentials, many Asian currencies depreciated “quite sharply,” thereby increasing import costs, he indicated. “Inflation is expected to peak by year’s end, but large exchange-rate depreciations may result in higher inflation and greater persistence, particularly if global interest rates rise more forcefully.” Srinivasan spoke during the IMF and World Bank annual meetings in Washington.

    Rising interest rates and large currency depreciations could also strain Asian debt-ridden countries, Srinivasan said. “Several countries in Asia are at high risk of debt distress, and Asia is now the world’s largest debtor,” he noted. China takes the brunt of Asia’s debt growth, but other economies are also affected, explained Sanjaya Panth, deputy director of the IMF’s Asia and Pacific Department. “Market stress cannot be ruled out. However, many economies’ low external debt levels, higher reserves and resilient financial systems give us comfort,” he said.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    EU’s €1.1 billion bicycle exports highlight shift to sustainable living

    June 3, 2023

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Global stocks surge as US debt ceiling agreement brings relief

    May 29, 2023

    Global clean energy investment set to reach $1.7 trillion, overtaking oil production

    May 27, 2023
    Latest News

    Game-changing Macs: Apple launches Mac Studio and Mac Pro with revolutionary Apple silicon

    June 6, 2023

    Apple redefines laptop excellence with the thinnest 15-inch MacBook Air

    June 6, 2023

    EU’s €1.1 billion bicycle exports highlight shift to sustainable living

    June 3, 2023

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Ayurveda vs science: Decoding the cold water conundrum

    June 2, 2023

    UN urges immediate action to prevent food and aid crises in cyclone-hit Myanmar

    June 2, 2023

    Big tobacco’s big lie: Philip Morris’ smoke and mirrors strategy

    June 1, 2023
    © 2021 Syria News Flash | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.