News Snapshot:
TOKYO: Several Asian central banks must raise interest rates rapidly , because inflationary pressures are rising due to a global surge in food and fuel costs caused by the war in Ukraine, said a senior International Monetary Fund ( IMF ) official. " Asia 's growing inflation pressures remain more moderate compared with other regions, but price increases in many countries have been moving above central bank targets," Krishna Srinivasan , director of the IMF 's Asia and Pacific Department, wrote in a blog published on Thursday (Jul 28). "Several economies will need to raise rates rapidly as inflation is...
