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Asian Central Banks Pause

Wall Street Journal - Sep 8, 2011

Fast-growing emerging economies in Asia are facing an unsettling combination of slowing growth and persistent inflation, complicating decisions for central banks who seem content for now to take a wait-and-see approach.

With the global economy cooling, central banks in South Korea, Philippines, Indonesia and Malaysia opted Thursday to leave benchmark interest rates steady, despite signs that price pressures aren't yet easing. These countries face a classic monetary-policy challenge of trying to fight inflation at a time when growth is slowing and the chances for an outright recession in the developed world have increased.‬ ‪

China, the world's largest emerging economy is set to release August inflation data Friday, after inflation hit a three-year high in July of 6.5% compared with a year earlier. While economists expect price growth to slow slightly in August, it is expected to remain above 6%. Beijing said at the start of the year it aimed to keep inflation below 4%, but Premier Wen Jiabao has acknowledged that it will likely miss that target.

Read Full Article from Wall Street Journal

- Posted: 2011-09-08 11:26:13

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